Published - July 21th, 2023 @ 4:00 PM (GMT+2)
Apple Inc. (NASDAQ:AAPL), a tech behemoth renowned for its innovations, is reportedly developing an AI large language model internally, which has sent ripples throughout the stock market. This move signals a critical focus on AI technology and its potential integration into future products, increasing its appeal to investors.
ChatGPT Rival: The Birth of 'Apple GPT'
In an effort to counter the current AI models like ChatGPT and Google Bard, Apple is leveraging its own 'large language model' (LLM) framework, 'Ajax', to develop an AI chatbot, some dub as "Apple GPT". This move echoes the rising trend of large language models that mimic human-like text generation.
Potential Impact of iPhone 15 Delay
However, rumored delays in the iPhone 15 series launch due to screen issues could impact Apple's stock performance, causing concern for both the company and its customers. Despite this, anticipation remains high for the phone's major upgrades, especially in the Pro models.
AAPL Stock Performance
Despite the slight initial decline on July 21, 2023, Apple’s stock showcased resilience with a significant trading volume. Its consistent financial performance over the past year and positive growth forecasts indicate the company’s stability and attractive investment potential.
Rise in Stock and Market Cap
The report on Apple's AI development caused a brief surge in its stock on a recent trading day, ending with a slight gain of less than 1%. Coupled with this, Apple has added a staggering $71 billion to its market value, reaching an impressive market cap of $3.04 trillion, which showcases the tech giant's resilient and steady growth.
Conclusion
Apple's focus on AI development, the creation of 'Apple GPT', and its market performance attest to the company's relentless pursuit of technological advancements. While the potential iPhone 15 delay poses challenges, Apple's resilience and stability in the market remain undeterred.
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