Despite the excitement surrounding the Apple WWDC event, Wall Street remained indifferent; while the three major US stock indexes rose collectively on Monday and most tech giants grew, Apple's stock price fell nearly 2%. Most Wall Street analysts gave a "so-so" evaluation of Apple's announced AI global strategy.
On June 11th, Caixin reported that on Monday, US Eastern Time, Apple announced its highly anticipated artificial intelligence strategy at the WWDC 2024 conference.
During a speech of nearly two hours, Apple CEO Cook and other executives introduced the all-new "Apple Intelligence" technology and how Apple integrates artificial intelligence into a series of applications, including Siri, and introduced OpenAI's chatbot ChatGPT to its devices.
However, despite the exciting atmosphere of the conference, Wall Street remained indifferent to the event. While the three major indexes of the US stock market collectively rose and most technology giants experienced gains, Apple's stock price fell nearly 2%. Most analysts gave only a "neither good nor bad" evaluation of Apple's artificial intelligence strategy.
Apple's release "did not disappoint anyone."
After Apple's WWDC conference, Wedbush analyst Daniel Ives released a research report stating that the Apple intelligent smartphone "changed the game rules for Apple."
This analyst, who has always been enthusiastic about praising technology companies, said: "We believe that Apple's artificial intelligence strategy will leverage its invaluable user base," and that its new artificial intelligence update will drive the development of the iPhone 16.
Ives rated Apple's WWDC conference update as "not disappointing". He said that Apple's new personal intelligent system "upgrades existing applications by injecting this technology into its software, making them more useful, and uses generative artificial intelligence models to create more intuitive experiences, making personal products more useful."
Ives also pointed out that Apple's emphasis on privacy and its cooperative relationship with OpenAI and reiterated his buy rating on Apple's stock.
More analysts are watching coldly.
However, compared to Ives' enthusiastic praise, the attitude of more Wall Street analysts tends to be indifferent.
Forrester analyst Dipanjan Chatterjee said: "Nothing in this conference can push the Apple brand forward as we expect...Apple Intelligence will indeed please users in some meaningful ways, but it only allows Apple to catch up with its peers, but not surpass them."
Analysts believe that unlike other technology giants such as Microsoft, Apple positions its AI functions to serve consumers rather than businesses, which may bring greater promotion difficulties because Apple needs to persuade more than one billion users, most of whom are not technology enthusiasts, of the necessity of AI technology.
PP Foresight analyst and founder Paulo Pescatore said:"In this early competition, Alphabet and Microsoft are in a better position after taking preliminary action (because of their cloud assets)."
In addition, Apple still relies too much on iPhone sales. However, some analysts expect that the new artificial intelligence functions are unlikely to boost iPhone sales in the short term.
Editor/ruby
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