Prediction: Apple Will Soar Over the Next 5 Years. Here's 1 Reason Why.
Investors aren't looking far enough down the road for its currently floundering AI efforts.
There's no denying it. Apple (NASDAQ: AAPL) was not only late to the artificial intelligence party, but it has struggled to catch up.
While the world was admittedly interested in Apple Intelligence's features unveiled in June of last year, demand for this tech -- as well as hardware that can handle it -- has been ho-hum. In fact, iPhone revenue fell during the quarter ending in December, while technology market research outfit IDC reports that unit sales of the iPhone slumped 4.1% year over year for the quarter in question. The company's AI-powered virtual assistant Siri has since been transferred to a new chief as well, after senior director Robby Walker called Apple's artificial intelligence results so far "ugly and embarrassing."
And yes, Apple shares have underperformed this year largely because of its disappointing artificial intelligence efforts.
