Apple (AAPL) experienced a significant surge in trading volume for the second consecutive day after a news report about the company’s plans to refresh its Mac computer lineup with a focus on artificial intelligence (AI).
According to a recent report by Bloomberg, Apple is planning to revamp its entire lineup of Macs with processors that have AI capabilities. These new Mac computers will feature M4 chips, the latest family of processors designed in-house by Apple. The release of the updated desktop and notebook computers is expected to begin later this year and continue into early next year.
Apple stock climbed by 1.9% to 178.36 in morning trades on the stock market today, surpassing its 50-day moving average line at 177 before the gains eventually subsided. The stock was last seen slightly up at 175.35. The increase in Apple stock was driven by the Bloomberg report, which fueled investor interest in the company’s upcoming AI innovations.
Analysts believe that Apple will also incorporate AI features into its iPhone 16 lineup this fall. The consumer electronics giant is expected to showcase its AI innovations at the Worldwide Developers Conference scheduled to take place from June 10-14.
CFRA Research analyst Angelo Zino maintained his buy rating on Apple stock, citing the potential for increased revenue from the new AI capabilities in Macs and other devices. Zino believes that the recent pullback in Apple stock presents an attractive investment opportunity for those looking for long-term growth potential.
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