Apple stock saw an increase in trading volume for the second consecutive day following news that the company plans to focus on artificial intelligence in updating its Mac computer lineup. The stock rose by up to 1.9% in morning trades, surpassing its 50-day moving average near 177, but then fell slightly to settle at 175.35. The previous day, Apple shares surged by 4.3% after Bloomberg reported that the company intends to revamp its Mac lineup with new processors that feature AI capabilities.
According to Bloomberg, the new Mac computers will be equipped with M4 chips, the latest processors created in-house by Apple. The rollout of the updated desktop and notebook computers is scheduled to begin in the late part of this year and continue into early next year. Analysts anticipate that Apple will introduce AI features to its iPhone 16 lineup this fall and will showcase its artificial intelligence innovations at the Worldwide Developers Conference, which is scheduled to run from June 10-14.
Following the Bloomberg report, CFRA Research analyst Angelo Zino reiterated his buy rating on Apple stock, stating that the move is a positive development that could boost pricing and revenue from Macs. He also mentioned that Apple aims to enhance revenue by incorporating AI capabilities into iPhones and other high-end devices to entice consumers to upgrade in the upcoming fall season. Zino described the recent pullback in Apple stock as an attractive opportunity for investors.
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