Apple shares soared to a record high on Monday after the tech giant unveiled its latest artificial intelligence software at its annual Worldwide Developers Conference.
The company’s stock price jumped more than 2% to $143.70 in early trading, surpassing its previous all-time high of $142.80 set in January.
Investors were impressed by Apple’s new AI software, which will be integrated into its devices to enhance user experience and improve performance. The software, called Core ML, will allow developers to create more intelligent apps that can understand and learn from user behavior.
Apple also announced updates to its virtual assistant, Siri, which will now be able to understand and respond to more complex commands and questions. The company’s new HomePod speaker, which will be powered by Siri, is set to launch later this year and is expected to compete with Amazon’s Echo and Google Home.
Analysts believe that Apple’s focus on AI and machine learning will give the company a competitive edge in the tech industry. With its loyal customer base and strong brand reputation, Apple is well positioned to capitalize on the growing trend of AI-driven products and services.
The company’s strong performance in recent months has also been fueled by anticipation of its 10th anniversary iPhone, which is expected to be released later this year. The new device is rumored to have a sleeker design, improved camera, and enhanced features such as facial recognition and wireless charging.
Overall, investors are bullish on Apple’s future prospects and are optimistic about the company’s ability to continue innovating and delivering products that resonate with consumers. As the tech giant continues to push the boundaries of technology with its AI software and other innovations, its stock price is likely to continue climbing to new heights.