Morning. Hope this finds you well.
With the artificial intelligence boom showing no signs of cooling off, keep an eye on Apple.
Apple (AAPL) is winding down its electric vehicle efforts, and focusing more on generative artificial intelligence – a market that could be worth about $1.3 trillion by 2032, according to Bloomberg Intelligence.
“Rising demand for generative AI products could add about $280 billion of new software revenue, driven by specialized assistants, new infrastructure products, and copilots that accelerate coding. Companies like Amazon Web Services, Microsoft, Google and Nvidia could be the biggest beneficiaries, as enterprises shift more workloads to the public cloud,” they added.
No wonder Apple wants a piece.
So far, as noted by CNBC, the company sees “incredible breakthrough potential for generative AI, which is why we’re currently investing significantly in this area,” Cook said at Apple’s annual shareholder meeting. “We believe it will unlock transformative opportunities for our users when it comes to productivity, problem-solving and more.”
Better, the company expects to have a major AI announcement later this year.
Other stocks to keep an eye on include:
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Company: Advanced Micro Devices (AMD) AMD exploded $13 higher just yesterday, and it could see higher highs. All after the company announced it was ramping up production of its MI300 AI chip as Internet companies upgrade data centers for processing AI applications and workloads. |
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| Company: C3.AI (Ai) With an expense ratio of 0.95%, the BIB ETF seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Nasdaq Biotechnology Index. Since November, the BIB ETF ran from about $42 to a high of $62. Here, too, it could see a near-term pullback, but higher highs over the long haul. |
Biggest Investors in the World LOADING UP on This AI Stock
It’s a small cap that trades for less than $10… Yet the biggest investors in the world own millions of shares.
Why? Because their AI just did something no company has ever done before.
Details here.
