Apple on Wednesday briefly reclaimed its berth as the world’s biggest company when measured by stock price, taking back the top position for a few hours from Microsoft.
Apple, which had taken its time to formulate its AI strategy, lost its long-held top spot in January as investors rewarded Microsoft’s unabashed rollout of new generative AI products under its CoPilot brand. On Monday, Apple unveiled a new AI platform called Apple Intelligence that will be gradually added to a new version of the iOS 18 operating system.
Analysts, while initially lukewarm, have grown to believe that the iPhone’s new powers will motivate the company’s 1.5 billion-strong user base to update their phones in order to take advantage of the AI features.
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