Apple (NASDAQ: AAPL) stock saw a marginal increase in intraday trading Tuesday as the tech giant debuted the iPad Pro featuring the M4 chip.
Apple (AAPL) recently introduced an iPad Pro featuring its new M4 chip, signaling a significant advancement in the company’s foray into artificial intelligence (AI). Alongside the new iPad Pro, Apple also introduced the Apple Pencil Pro and Magic Keyboard, rounding out its suite of innovative products.
The highlight of the announcement is undoubtedly the M4 chip, which equips the iPad Pro with unparalleled AI capabilities. Apple touts the device as an “outrageously powerful device for artificial intelligence,” boasting its most potent Neural Engine to date. According to Apple, the Neural Engine in the M4 chip surpasses the capabilities of any neural processing unit in AI PCs currently available.
The new iPad Pro models and accompanying accessories are available for order starting Tuesday, with availability in stores commencing on Wednesday, May 15.
This unveiling represents a significant milestone in Apple’s AI strategy, positioning the tech giant alongside industry peers in developing in-house AI chips. Apple now joins the ranks of Meta (META), Alphabet’s (GOOGL) Google, Microsoft (MSFT), and Amazon (AMZN) in leveraging custom chips to bolster AI capabilities. By integrating AI capabilities directly into their devices, these companies aim to reduce dependency on external solutions and manage the high costs associated with AI operations, potentially lessening reliance on suppliers like Nvidia (NVDA).
Apple (NASDAQ: AAPL) Stock Reaction
AAPL stock gained 0.38% to close at $182.40 on Tuesday. Its value increased by 7.09% this week. Trading activity has witnessed 77,305,768 (77.30 million) shares changing hands, well above the average daily volume of 64.04 million.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
