Apple’s stock price hits record high following AI suite unveiling

WEB DESK: Apple’s stock price has surpassed the $200 mark, setting a new all-time high during intraday trading. This milestone comes just one day after the tech giant revealed its Apple Intelligence suite, a set of advanced AI features that will be integrated into iOS 18, iPadOS 18, and macOS Sequoia.

Since going public, Apple’s stock has undergone five splits, the most recent being a 4-for-1 split in 2020. Adjusted for these splits, Apple’s stock price would now be over $45,000, assuming all other factors remained constant.

The unveiling of Apple Intelligence has generated significant interest among investors, particularly given the ongoing buzz around generative AI technologies since the debut of ChatGPT in 2022. Anticipation had been building for Apple’s entry into the AI space, and the company’s latest announcement did not disappoint.

Just last week, Nvidia briefly overtook Apple to become the world’s second most valuable company, driven by strong demand for its AI server chips. However, Apple has since reclaimed its position, boasting a market cap of $3.1 trillion as of this writing. Apple remains behind only Microsoft, which holds a market cap of nearly $3.2 trillion

Despite the excitement, the new Apple Intelligence features are not included in the initial developer betas of iOS 18, iPadOS 18, and macOS Sequoia. These features are expected to become available this summer, though they will still be in beta even upon their public release later this year.

Read next: What’s new in the iOS 18?