This year, Apple's (AAPL.O) stock performance has lagged behind the market, yet it remains the world's most valuable company.
On Wednesday, Apple's stock price fell by 2.2% as investors digested news about iPhone 16 orders and previews of new AI features.
Apple previewed the latest version of its mobile operating system, giving developers their first chance to test some of the coolest AI features, including integration with ChatGPT and the ability to create personalized emoji. However, these features will not be released in next week's public version.
The iOS 18.2 released today is only available to users in the Apple Developer Program. iOS 18.1 is expected to be officially released next week.
Apple Intelligence was first announced in June, marking Apple's foray into consumer artificial intelligence. While some features have been released as part of a public beta, including enhanced AI writing tools, improved photo search functions, and upgrades to Siri, the rest of the features will be gradually released "later this year."
As noted by CNET, the developer beta is not open to everyone. First, users need to have at least an iPhone 15 or a newer model to use this version, and they also need to register for the free Apple Developer Program. To access Apple Intelligence AI features, including integration with ChatGPT and personalized emojis (Genmoji), users must also join the Apple Intelligence waitlist.
Apple hopes to provide reasons for users of older iPhone models to upgrade with these new AI features. Despite being the world's most valuable publicly traded company, valued at about $3.5 trillion, its stock has slightly lagged behind the S&P 500 and Nasdaq Composite indices this year, both of which have risen over 21%. In contrast, Apple's stock has only increased by 19% so far this year.
On Wednesday afternoon, Apple's stock price fell by 2.2%, closing at $230.76.
Earlier today, UBS analysts pointed out that despite the enthusiasm sparked by Apple's AI plans announced this summer, they expect iPhone sales for the quarter ending in September to be flat compared to the same period last year.
Analysts added that although investors are optimistic about the iPhone upgrade cycle in 2025, "we remain cautious about the growth brought by Apple Intelligence."
Article reposted from: Jin Ten Data