Posted 4/12/2024, 1:39:47 PM
Apple Stock Surges on AI Plans for Macs, Adding $112B as Investors Welcome Growth Vision
- Apple's stock surged after announcing plans to overhaul Mac computers to focus on AI, adding $112B in market value
- The stock has been punished this year for not articulating a growth vision, but AI focus sparked investor optimism
- Success will depend on delivering AI capabilities beyond Macs and into iPhones to drive sustainable growth
- Apple trades at a relative discount vs peers, appearing attractive with defensive qualities like strong cash flows
- Broader hope is that AI will catalyze re-acceleration of growth after recent sales declines