Well, 30 minutes into it and still no mention of AI. <sigh>
Ok, they finished with visionOS and iOS, and still no AI to be seen. Now on to watchOS. I sure hope the AI will be the “one more thing” at the end of this ongoing yawn fest.
Ok, good. Tim is finally talking about AI now! “Personal Intelligence” is now a thing, and it’s indeed called Apple Intelligence.
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Watched it, and the AI was quite long near the end… But all of it it not immediate… So a bit of patience is needed I guess…
hmmmm…as per the market, nothing really new and just catching up with others…so what’s the next big thing? Not a lot left up their sleeve is there and I’m normally the most positive over the years…$250.00 is coming but when? End of this year or 2025?
Well, to me it was a bit of future-casting out into he rest of this year… Watching…
Today’s Market seems to really like the news… Up 5.75% so far today… So no complaints here by me at least… High volume of 104K so far…
204.22+11.10 (+5.75%)
As of 12:27PM EDT. Market open.
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Huh, nice to see. I wonder why the change in sentiment since yesterday’s drop.
Up Over 6% now, while TSLA drops as their CEO spews stuff again… Happy/Sad…
I have a bit of TSLA, but much Much MUCH more AAPL, so I’m pretty happy, as I know you also are!
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In the words of Rocket J. Squirrel “Hokey Smokes!”
AAPL
Closing Price: $207.15
Daily change in $ and %: +$14.03 and +7.26%
All time closing high.
From a Bloomberg article.
Shares soared 7.3% to $207.15 in their biggest one-day jump since November 2022. The gain added $215.1 billion to the company’s market capitalization, making for one of the biggest single-day value adds by any company in history, according to data compiled by Bloomberg.
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Head scratching here but no complaints, all-time high as if a rocket just took off, as you were, and I will now get my coat and shut up. 
I expected some profit taking today. I appear to be wrong. Right now AAPL is up over $10 above yesterday’s amazing close. But there are still 4+ hours of trading left today.
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Most tech stocks are up strongly today, but in regard to AAPL specifically, I am still wondering why the sentiment has apparently changed. Is something “big” going on we don’t know about yet?
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I can’t figure it out. Maybe there is more excitement about what Apple announced at WWDC than first appeared. I haven’t seen any news. 
Perhaps an expected/hoped-for iPhone upfrade “super cycle” coming in the Fall when lots of people want/need to get the new rumored “A18 Pro” chip to take full advantage of all the new “Apple Intelligence” goodies? From How the iPhone's A18 Pro chip will supercharge Apple's AI revolution | Macworld
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I imagine it’s not this news that’s driving the price up:
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And we are again king of the market cap hill:
Maybe it really is the iPhone “supercycle” upgrade potential to come this Fall:
Apple, Nvidia, and Microsoft in $4T race
Wedbush says that three of the world’s largest companies – all benefitting from demand for AI – are now in a race to hit a $4T market cap.
We believe over the next year the race to $4 Trillion Market Cap in Tech will be front and center between Nvidia, Apple, and Microsoft. Nvidia’s GPU chips are in essence the new gold or oil in the tech sector as more enterprises and consumers quickly head down this path with the 4th Industrial Revolution well underway.
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I’ve long been a skeptic of what pundits call “AI”. I’ve been keeping my eyes open for applications to my work for AI, machine learning, heuristic algorithms, and neural networks for decades, and I’ve always fallen back on traditional algorithmic and/or procedural programming to do my data acquisition and analysis. It’s only recently that I’ve been trying ML again, and that’s mainly because of the widespread availability of ML libraries nowadays, so I don’t have to write my own NN code from scratch like in the old days (which I did only a couple of times anyway).
That said, I’m no pundit, and no one listens to me. Not that I evangelize my opinion much, either. So it’s not entirely surprising to me that AAPL jumped after the WWDC AI announcement, but there’s one other factor that I think adds to the mix: The $200 psychological barrier.
Yes, stock price “barriers” aren’t “real” things, but it’s been my observation over the past couple of decades, looking mainly at AAPL but also some other stocks, that the market seems to treat those round numbers as real thresholds. I read lots of financial journalists and interviewees saying this or that stock is testing levels. With AAPL, it seems to me that whenever it breaks a significant barrier and stays there, it gets a big burst of momentum that may allow it to break other subsequent barriers in short order. AAPL tested $200 a couple of times last year (July and December) and then pulled back, and it looked ready to test it again this past month. Based on recent behavior, it wouldn’t have surprised me if AAPL had pulled back and maybe began declining gradually to $170 over the next six months.
But then, AAPL broke $200 yesterday, it broke $210 today, and it’s playing with $220 as I type this.
Yeesh.
I’ve been an observer of “market psychology”, and I hate the idea of trading on market psychology. It’s too fickle a thing, and I end up riding it down just as much as I ride it up.
As for where AAPL is going long term, I think investors and traders are now betting on Apple’s ability – sometimes legendary but often also mythical – to do something completely new with some preexisting thing and revolutionize it. It happened with computers, music players, and smartphones. It didn’t happen with televisions and cars.
They may stand a better chance with Apple Intelligence, but the WWDC announcements, though lengthy, were also pretty tentative, in my opinion, and geared to a still-hazy future. What I saw was not HAL, or Skynet, or anything that I’d call “intelligent” in those senses (which is in part why I’ve been skeptical of punditry around AI – pundits are talking about something that’s not the same as what I think, like how the 3 nm process isn’t really about literal 3 nanometers).
Very loosely speaking, it looks to me like Apple is trying to further enhance user interfaces and applications. That’s their strength, so it’s a start.
-awlabrador
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