Apple ( AAPL ) has overtaken Microsoft ( MSFT ) as the most valuable company, outpacing the tech competitor as Apple shares soared to new record highs on new AI announcements. Catalyst hosts Seana Smith and Madison Mills report on Apple’s top move and where its new AI features will fit into the consumer tech landscape.
For more expert insights and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Luke Carberry Mogan.
Check out more of Yahoo Finance’s coverage of Apple and its WWDC announcements:
The challenge of Apple’s ‘AI for the rest of us’ is that we don’t know what it’s for: Morning Brief
Apple will no longer ‘lose’ with its new AI initiative
Apple AI: Do consumers share the same enthusiasm as investors?
Apple’s iPhone segment to grow 10% next year: Analyst
Apple looks to make AI more personal
CEO confirms Apple partnership: ‘it’s very exciting’
Video transcript
Now we’ll turn to big tech Apple’s stock is soaring after overtaking Microsoft and regaining its place as the most valuable company.
This comes after Apple announced new AI-powered features and its worldwide developer conference and shoot, I was looking at some of the comments online to understand why we saw an initial negative move from Apple stock after the announcements from the conference.
And then we clearly saw this huge upside and some people were saying, well, it just wasn’t necessarily sure how to assume the news that we came out of the conference wasn’t necessarily sure what was good enough news for Apple.
And then after some big commentators who are really famous within the space came out and said, hey guys, this is actually really big stuff coming from Apple.
That’s what led to the rally as investors somehow digested that the good news from Apple was indeed good news.
Yes, exactly.
And I think in general the comments here from analysts, a lot of what we heard on Monday was right.
And we’ve seen this resurgence just for some of the excitement surrounding Apple ahead of this announcement, what exactly does this ultimately mean for the adoption story, whether or not Apple comes out with features that they announced on Monday, what exactly is that going to do on that next iPhone cycle?
If it will be enough to convince and convince their customers out there that they should go out and pay $1213 1400 for a new phone because of these new features and the reviews that have come out.
And I think initially it was yes, this is exactly what we expected.
Nothing goes beyond maybe what was already there in terms of rumours.
But then I think once you take a step back, right?
And you think about what that means overall to go back to that point of adoption there just a second ago, what it ultimately means for some consumers who don’t use AI capabilities on a daily basis.
Ultimately, the impact it’s going to have in their lives, what it’s going to do here for that long-term adoption, and ultimately what that does for the excitement surrounding some of those other bigger tech plays, or no?
Many of them can be, you can argue, you can argue, pass on some of the success, maybe that Apple will have.
But at least when it comes to that consumer, everyday impact side of the story.
So that’s why Julie Hyman came out with a great breakfast conference this morning talking about this.
So yeah, I think some analysts remain divided or maybe they weren’t very excited or overly excited.
Uh, but what we heard on Monday, but again, when you take a look at the reaction that we saw play out in stocks yesterday and certainly, the gains today you can clearly see there.
Is that AI hype?
Is this the excitement of AI?
And now Apple is one of the stocks that has been lagging behind for quite some time now, starting to capitalize more on all that excitement.
Right.
It seems like it was a bit pricey from the rumours, sell the news earlier in the week and now after the commentary, there is a lot of room to gather here.