Apple Inc. has ceased development of its electric vehicles and redirected resources towards artificial intelligence projects. CEO Tim Cook has assured shareholders of exploring new frontiers in AI. However, investors' dissatisfaction with Apple's unclear AI strategy has led to a continuous decline in its stock price. Apple's market capitalization has fallen below Microsoft's, facing a slump in iPhone sales and no foreseeable growth in new product sales. Wall Street casts a skeptical eye on Apple, consistently reducing the number of buy ratings. Analysts speculate that Apple might launch a competitive generative AI product, but the lack of market momentum factors has left it somewhat lagging. Apple has lost over $300 billion in market value, with its supply chain at risk and lacking new significant products, which could further depress the stock price.
Apple's AI Strategy Unclear, Traders Unhappy as $300 Billion in Investor Value Vanishes
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