2024-03-06 05:53:03.AIbase.6.3k
Apple's AI Strategy Unclear, Traders Unhappy as $300 Billion in Investor Value Vanishes
Apple Inc. halts electric vehicle development and shifts focus to AI projects. CEO Tim Cook promises shareholders to explore new frontiers in AI. Investors are dissatisfied with the unclear AI strategy as the stock price continues to decline. Apple's stock has dropped 12% this year, with market capitalization falling below Microsoft. Investors want Apple to demonstrate its significant position in AI. Apple faces sluggish iPhone sales, and new product sales growth seems distant. Wall Street is casting doubt on Apple, continuously reducing buy ratings. Analysts believe Apple may launch competitive generative AI products.
