Apple’s $471 Billion Rally Hinges on Whether AI Event Delivers
- Investors hope AI features will spark an iPhone upgrade cycle
- Stock has underperformed this year but recently surged
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It’s the moment of truth for Apple Inc.’s artificial intelligence plans — and for the $471 billion rally that has rescued the stock from the doldrums.
AI is expected to be a central focus of the company’s annual Worldwide Developers Conference, which begins Monday, and optimism has been steadily growing. Investors are hoping new AI features will be enticing enough for consumers to pay up for the next generation of iPhones, countering the perception Apple has few catalysts for growth.