Apple (NASDAQ:AAPL) stock has been trading in a relatively tight band recently, and today is no different. However, although shares of AAPL stock are little changed overall, it has been up and down throughout the day. This is thanks to a closely-watched iPhone AI preview put forward by the company, which is raising eyebrows.
The company released the first version of what it’s calling Apple Intelligence today, in a bid to capitalize on the booming interest around integrating AI into everyday technological products.
This release, currently in the developer beta of iOS 18.1, is available to Apple developers who are part of a paid-in program. Over time, the expectation is that users within Apple’s ecosystem will be able to utilize many new features on their new iPhones, sparking another upgrade cycle.
Let’s dive into seven highlights from the iPhone AI preview to see why the stock has rallied throughout the day.
Apple iPhone AI Preview
- Apple’s foray into artificial intelligence has been eagerly awaited by investors looking to see how the world’s largest company will integrate AI into its offerings.
- Demand is likely to be high for Apple Intelligence, with a waitlist inside Apple settings currently available for users to check out the service.
- New iPhones will include an updated look for Siri and improvements to its voice recognition software.
- Improved photo search and movie creation are other benefits of this software upgrade.
- The company anticipates rolling out other functionality for its key applications.
- The release boasted AI-generated summaries for mail, messages and other applications as a feature of the next edition of the iPhone.
- Apple Intelligence is expected to become available to consumers this fall in beta mode.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
