Shares of (NASDAQ: AAPL) have fallen behind the return of the broader market over the last year. One of the issues weighing the stock is the perception that other tech companies like Alphabet and Microsoft are pulling ahead of the iPhone maker in artificial intelligence (AI).

But Apple is expected to finally reveal its AI plans at the Worldwide Developers Conference (WWDC) on June 10. Investors seem to be already pricing in positive news around the company's AI initiatives, with shares up 16% in just the last month. Let's look at how AI-enabled iPhones could benefit Apple, then consider what it means for the stock.

Apple is very aware of the enormous opportunity to sell more devices with AI, and it's putting big money behind it. The company has invested over $100 billion in research and development over the last five years, and it's reportedly spending over $1 billion per year on AI research specifically.

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Source Fool.com