By Angela Palumbo
Apple announced that new generative artificial-intelligence features are now available on compatible devices as the company pushes to get consumers and investors excited about its new tech.
Apple said in a news release Wednesday that its latest gen-AI software update now gives users access to new features like Genmoji creation and the integration of ChatGPT into Writing Tools and Siri.
Shares of Apple rose 1% early Wednesday to $250.12.
Investors knew these updates were coming. Apple originally introduced its gen-AI tech in June at the Worldwide Developers Conference. But when the latest iPhone was launched in September, it was missing the AI features Apple had previously touted. Some of those came in October, and the company said more were to follow in December. That leads us to today.
On top of the new AI update, the company said it has begun expanding Apple Intelligence with localized English support for Australia, Canada, Ireland, New Zealand, South Africa, and the U.K. after initially launching with just U.S. English.
Investors want to see an increase in demand for Apple's products, specifically its iPhone, and they hope that the rollout of gen-AI software will help with that. But as the company takes its time rolling out these updates, especially in other countries, any major upgrade cycle may take longer than Wall Street initially expected.
Shares of Apple have risen 30% this year, compared to the 27% increase of the S&P 500 and 33% rise in the tech-heavy Nasdaq Composite.
Write to Angela Palumbo at angela.palumbo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 11, 2024 11:37 ET (16:37 GMT)
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