Wednesday Apple Rumors: Apple Acquires AI Startup Silk Labs

Foxconn is preparing for a difficult 2019

Leading the Apple (NASDAQ:AAPL) rumor mill today is news of an acquisition. Today, we’ll look at that and other Apple Rumors for Wednesday.

Wednesday Apple Rumors: Apple Acquires AI Startup Silk LabsSilk Labs: Apple has purchased AI startup Silk Labs for an undisclosed sum, reports MacRumors. The exact details of the deal are unknown, but it is clear as to why AAPL would want the company. Silk Labs specializes in creating AI software that is less demanding. This allows the software to go into cameras, speakers and other smarthome devices. The company also has a focus on creating an AI service with privacy in mind. This all appears relevant to the tech company’s ongoing efforts with AI.

Foxconn Memo: A recent memo leak reveals that Foxconn is preparing for a difficult 2019, AppleInsider notes. According to the company, it is expecting to launch cost-cutting efforts in 2019 to deal with what it calls a “very difficult and competitive year.” Foxconn is an iPhone manufacturer for AAPL. Other recent reports have claimed that the tech company is reducing its iPhone orders due to low demand.

Veterans: It looks like Apple may start helping the Department of Veterans Affairs, reports 9to5Mac. According to this rumor, the tech company is in talks with the Department of Veterans Affairs to allow veterans to store health records on iOS devices. This would have the company creating a special software that would be able to store the information of the organizations roughly 9 million veterans.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2018/11/apple-acquires-ai-startup-silk-labs/.

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