On Friday, Apple (AAPL) stock experienced a surge in trading volume for the second consecutive day, following a report that the company plans to refresh its Mac computer lineup with a focus on artificial intelligence (AI). In morning trades on the stock market today, Apple stock climbed by 1.9% to 178.36. The stock moved above its 50-day moving average line at 177 before eventually fading.
Apple is expected to release an updated lineup of desktop and notebook computers featuring M4 chips, the latest family of processors designed in-house by the company. These new Mac computers will be powered by AI capabilities and are scheduled to begin later this year and extend into early next year. This news has fueled excitement among investors and analysts alike, who believe that these new Macs will drive increased revenue for the company.
In addition to refreshing its Mac lineup, Apple is also expected to incorporate AI features into its iPhone 16 lineup this fall. The consumer electronics giant is set to showcase its AI innovations at the Worldwide Developers Conference scheduled to take place from June 10-14. This conference is highly anticipated by industry experts and investors alike as it will provide insight into Apple’s future product roadmap and growth opportunities.
One analyst who has maintained his buy rating on Apple stock is CFRA Research analyst Angelo Zino. He cites the potential for increased revenue from the new AI capabilities in Macs and other devices as a key driver of his bullish outlook on the company’s future prospects. Zino believes that this recent pullback in Apple stock presents an attractive investment opportunity for those looking for long-term growth potential with one of the world’s largest technology companies.
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