Apple's stock (AAPL) has surged past $200, reaching an all-time high during intraday trading. This milestone comes on the heels of the company's announcement of its Apple Intelligence suite of AI features for the upcoming iOS 18, iPadOS 18, and macOS Sequoia. If Apple's stock had not undergone multiple splits, including a 4-for-1 split in 2020, its share price would now be over $45,000.
Investors have been particularly impressed by this development. The unveiling of Apple Intelligence has reassured the market about Apple's competitive edge in the burgeoning AI sector. Since the debut of ChatGPT in 2022, generative AI has been a hot topic, and investors were eagerly anticipating Apple's strategic move in this domain. The announcement has sparked a surge of investor confidence, reflected in the significant rise in Apple's stock price.
Last week, Nvidia temporarily overtook Apple as the world's second most valuable company due to high demand for its AI server chips. However, with the latest AI advancements and investor enthusiasm, Apple has reclaimed its position with a market capitalization of $3.1 trillion. This places Apple just behind Microsoft, which currently has a market cap close to $3.2 trillion.
The market's reaction underscores the anticipation and excitement surrounding Apple's entry into the AI space. Despite the new AI features not being included in the first developer betas of iOS 18, iPadOS 18, and macOS Sequoia, they are expected to be available this summer. These features will retain a beta status even when publicly released later this year, signaling Apple's commitment to ongoing development and refinement.
Overall, the stock market's response to Apple's announcements highlights investor confidence in the company's future prospects, particularly in the rapidly evolving field of artificial intelligence.
