Apple shares are on track for their strongest month since March 2023, rising nearly 12% following the earnings report and the announcement of the largest share buyback in U.S. history. The company’s recovery is driven by rising expectations for artificial intelligence initiatives.
Investor sentiment was bolstered by reports of Apple’s potential collaboration with OpenAI to integrate ChatGPT functionality into the iPhone operating system.
Analysts believe AI-based improvements, such as advanced digital assistants similar to “Siri on steroids,” could be potential catalysts for Apple’s iPhone sales growth and services revenue.
Source: Ferra
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