15 AI News Investors Should Not Miss

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 184

Apple Inc. (NASDAQ:AAPL) is an American multinational corporation and technology company involved in the design, manufacture, and marketing of smartphones, tablets, PCs, wearables, and accessories worldwide. The company uses artificial intelligence in several ways. The launch of Siri by Apple it became the first widely used AI-enabled and natural language processing (NLP)-powered assistant.

Apple Inc. (NASDAQ:AAPL) launched its most important product this month, Apple Intelligence, which is a suite of software tools bringing artificial intelligence to its devices. In lieu of this, on October 15, it introduced its new iPad mini geared by the A17 Pro chip and Apple Intelligence. According to Apple’s press release, the A17 Pro is characterized by a faster CPU and GPU, a 2x faster Neural Engine than the previous-generation iPad mini, and support for Apple Intelligence.

“There is no other device in the world like iPad mini, beloved for its combination of powerful performance and versatility in our most ultraportable design. iPad mini appeals to a wide range of users and has been built for Apple Intelligence, delivering intelligent new features that are powerful, personal, and private. With the powerful A17 Pro chip, faster connectivity, and support for Apple Pencil Pro, the new iPad mini delivers the full iPad experience in our most portable design at an incredible value.”

-Bob Borchers, Apple’s vice president of Worldwide Product Marketing.

On Monday, October 7, Jefferies downgraded the company’s stock from Buy to Hold, stating expectations for the sales of the new AI-enabled iPhones are too high, and that it will take time for smartphone technology to truly support AI.