2 Winners and 2 Losers From Apple's Latest Artificial Intelligence (AI) Announcement
's (NASDAQ: AAPL) Worldwide Developers Conference (WWDC) last week sparked a new interest in the stock and caused it to notch fresh all-time highs. However, there are a few winners and losers associated with its primary announcement about Apple Intelligence and its general take on artificial intelligence (AI).
So, who are the winners and losers of this conference? The answers may surprise you.
To me, there is a clear winner in this announcement: Taiwan Semiconductor Manufacturing (NYSE: TSM). Taiwan Semi's business is already doing well, but it just got a catalyst. In 2021, 2022, and 2023, sales from Apple made up 26%, 23%, and 25% of TSMC's revenue, respectively. The smartphone business has struggled recently, but that could turn around quickly.
Source Fool.com