20 AI News Investors Should Not Miss

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4. 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 leverages AI to enhance functionality, user experience, and security across its products.

On Wednesday, October 23, Apple Inc. (NASDAQ:AAPL) released a beta version of its iPhone operating system, iOS 18.2. This version includes a large number of Apple Intelligence features, with the much-awaited ChatGPT integration. Investors are hopeful that these AI features will help fuel iPhone upgrades since they are only available on the newer devices. The iOS 18.2 preview features new capabilities for users to customize text rewrites by Apple Intelligence, Genmoji for generating new emoji, Image Playground as an AI image generator, Visual Intelligence, and integration with ChatGPT. According to Apple, the official public release of the Apple Intelligence features will be next week as part of the official iOS 18.1 release.

Wedgewood Partners, an investment management company, highlighted stocks like Apple Inc. (NASDAQ:AAPL), in the third quarter 2024 investor letter. Here is what they state regarding Apple Inc. (NASDAQ:AAPL):

“Apple Inc. (NASDAQ:AAPL) also contributed to performance as investors continued to favorably discount the recent unveiling of its AI strategy. As we have noted in the past, the Company has been at the forefront of proprietary semiconductor computer processor development for well over a decade. Given the compute-intensive nature of AI applications, Apple is well situated to develop a suite of compelling, consumer-friendly AI services that are also cost-effective. Apple’s AI value proposition should compel consumers to continue growing their engagement in the Apple ecosystem over the next several years.”

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