Why Apple's Strategy for Artificial Intelligence Makes the Stock a No-Brainer Buy
Artificial intelligence (AI) has the potential to be a catalyst for any big tech company, and (NASDAQ: AAPL) is no exception. There have been rumors about what Apple will do with respect to AI and whether it will have its own chatbot. Last week, it unveiled its strategy for AI. And while it wasn't necessarily a groundbreaking one, it was enough to send shares of Apple soaring to new heights.
One thing investors were likely eagerly awaiting was whether Apple was indeed going to come out with its own chatbot. There was speculation about an Apple GPT that could rival ChatGPT, but that remains a rumor at this point.
Instead, Apple is going to make ChatGPT available on Siri, its personal assistant. ChatGPT has 200 million monthly active users and has effectively become the default chatbot for many people. While other tech companies have made their own chatbots, arguably none is as well known as ChatGPT is today. And with Alphabet making multiple blunders with the rollout of Bard and Gemini, not rushing out with its own chatbot could be a good, safe move for Apple.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 104 Buy predictions and 6 Sell predictions.
With a target price of 210 € there is a slightly positive potential of 2.09% for Apple Inc. compared to the current price of 205.7 €.
