Report Indicates Apple Stock Increases Due to AI Mac Innovation

Report Indicates Apple Stock Increases Due to AI Mac Innovation

Apple (AAPL) stock surged in trading volume for the second consecutive day following a news report about the company’s plans to refresh its Mac computer lineup with a focus on artificial intelligence (AI).

In morning trades on the stock market today, Apple stock climbed by 1.9% to 178.36. The stock moved above its 50-day moving average line at 177 before the gains eventually faded. Apple stock was last seen slightly up at 175.35.

The jump in Apple stock on Thursday was fueled by a report from Bloomberg that the company is planning to revamp its entire lineup of Macs with processors that have AI capabilities. These new Mac computers will feature M4 chips, the latest family of processors designed in-house by Apple. The release of the updated desktop and notebook computers is scheduled to begin later this year and extend into early next year.

Analysts believe Apple will also incorporate AI features into its iPhone 16 lineup this fall. The consumer electronics giant is expected to showcase its AI innovations at the Worldwide Developers Conference scheduled to take place from June 10-14.

Following the Bloomberg report, CFRA Research analyst Angelo Zino maintained his buy rating on Apple stock, citing the potential for increased revenue from the new AI capabilities in Macs and other devices. Zino believes that the recent pullback in Apple stock presents an attractive investment opportunity.

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