HomeBusinessApple shares rise on AI Mac report

Apple shares rise on AI Mac report

Apple (AAPL) shares rose for the second day in a row on above-average trading volume following news that the company is planning a major AI-focused refresh of its Mac computer lineup.




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In today’s morning stock market trading, Apple shares rose as much as 1.9% to 178.36. With this move, it rose above the 50-day moving average line, near 177.

However, the profit disappeared. Apple shares last rose fractionally to 175.35.

On Thursday, Apple stock rose 4.3% to close at 175.04. The move came after Bloomberg reported that Apple plans to update its entire range of Macs with processors that feature artificial intelligence. The new Mac computers will use M4 chips, the latest series of processors designed in-house, according to Bloomberg.

Apple plans to release the updated desktop and notebook computers at the end of this year and continue through early next year, the report said.

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Additionally, Apple is looking to add AI features to its iPhone 16 lineup this fall, analysts say.

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Analysts expect the consumer electronics giant to promote its innovations in artificial intelligence at its Worldwide Developers Conference this summer. The WWDC takes place from June 10 to 14.

On Thursday evening, CFRA Research analyst Angelo Zino reiterated his buy rating for Apple shares following the Bloomberg report.

“We view this as a positive development as it could provide a benefit to pricing and revenue within Macs,” Zino said in a customer note.

He added: “Apple is looking to generate higher revenues by injecting new on-device AI capabilities into iPhones and other higher-end devices to encourage consumers to pay this fall.”

Zino said the recent drop in Apple stock offers investors “a tantalizing opportunity.”

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer tech, software and semiconductor stocks.

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