Shares of Apple ( AAPL ) are moving higher after a Bloomberg report revealed the company aims to ship 10% more new iPhones in 2024. Growth will include a push into AI-enabled technologies as the megacap tech stock starts to deploy its Apple Intelligence Features to new devices. Apple also reported more than 20% year-over-year growth in PC shipments in the second quarter.
Market Domination’s Josh Lipton and Julie Hyman break down the latest developments for Apple and what it could mean for the company moving forward.
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This post was written by Nicola Jacobino
Transcript of video
We want to get to a current ticker.
This is one of those mega-cap tech stocks.
This is Apple.
The stock is 1.4% higher today and is trading at a record high.
This according to a report that the company aims to ship at least 10% more new iPhones in 2024.
That’s what Bloomberg claims.
This growth will of course be welcomed by the tech giant after a slow 2023.
And as we talked about a little bit yesterday, some analyst research was pointing in that direction.
At least some of it will be self-driven, it seems.
Josh.
Yes
So, Bloomberg, citing sources, that Apple is talking about a 10% increase in shipments of new iPhones.
Hmm, so if this report is accurate, it looks like Apple is fairly confident about these new A. I activated, um, phones.
Hmm, Bloomberg is right to point out that there is a caveat here.
Apple really has easier computing and an easier comparison here because the company had this tougher second half of 2023.
There are other questions about
Do you know exactly how?
All this is spreading in China.
Um, where there are limitations.
Hmm, how might this affect Apple’s attempts to build AI into new products.
But listen, Apple is up today and now about 20% this year.
Well, here again it’s interesting that this is Apple’s plan.
You probably know this better than that, but is anyone not Apple pretty good at predicting what demand will be right when they make shipping plans?
Well, it’s always difficult because there are so many puts and takes.
I mean, again, they obviously give, you know, a confidence boost, as you see here.
I. I think what’s interesting is with this I technology.
I mean, the big thing here.
What they’re selling is that it really is a new and improved Siri, right?
That’s really the big selling point in some ways.
And Syria has often been the subject of a lot of criticism, right?
So, to the extent, listen to our own Dan Halley, we have to get the tech guys to really review it and see if it’s justified.
But if it does, um, that’s how people experience JA I.
So if it lives up to expectations, it could be a big deal.
And listen, if you’re a bull on stocks, this is something you’ve been counting on.
You think that this a. I enabled the iPhone will make a meaningful upgrade cycle.
Well, and it’s also interesting, because this will be a bit of a topic.
I realize that on our show today, we’re going to talk to the CEO of AI Soundhound a little bit about Who’s putting things like these into some vehicles?
Um, we’re also going to talk about Amazon’s Rufus, which is its Gen A. I interactive bot.
I guess we’d call it that.
So you know, there’s more.
It’s not just Apple.
Of course.
There are many companies trying this right now.
I think there’s still a big question about how it will be received by consumers specifically.
And, um, you know, we’ll understand that it’s, you know, but you’re right to point out because that’s what investors are waiting for, kind of a baton passing and like OK, talking about marketing a I Let’s see.
Real use.
Let’s see real monetization.
Absolutely.
And no fighting with Siri for directions to where you’re going, for example.
