Apple introduces AI features – Should you invest?

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Investing.com – Apple Inc (NASDAQ:) unveiled its Artificial Intelligence features in their devices this Monday, marking the beginning of a growth cycle for the iPhone and Apple services, as part of the announcements at their 2024 Worldwide Developers Conference (WWDC).

The company, led by Tim Cook, introduced Apple Intelligence, which according to analysts’ forecasts, could become a turning point for the company with significant implications for its future growth and market positioning in artificial intelligence.

As part of this presentation, it is worth noting that according to the consensus of 40 analysts from InvestingPro, the target price for Apple shares (NASDAQ:) is $205.41 per share, with an upside potential of 5.1%.

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Apple enters the era of Artificial Intelligence

This edition of WWDC was defined by Wedbush analysts as the most important event for Apple in over a decade, with the presentation of its generative AI technology for both developers and consumers. Experts estimate that this AI strategy could add between $30 and $40 to the company’s growth value.

The introduction of AI technology into Apple’s ecosystem will bring numerous monetization opportunities, both in services and hardware (iPhone). This includes the integration of ChatGPT into the new AI features of the devices.

Apple Intelligence features include message and webpage summaries, real-time transcription in Notes and Voice Memos, custom emoji generation, and advanced photo editing tools in the Photos app, among several other capabilities.

Other advancements presented at WWDC include Siri improvements using ChatGPT language models, enabling it to better understand user queries and respond more effectively. Additionally, Siri will be able to perform actions within Apple apps, increasing its functionality and daily usefulness.

New AI features were also announced for iPhones with iOS 18. Previous iPhones will have access to some AI features, but not all.

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Note to the reader: This article is not an investment recommendation. It is suggested to conduct a thorough analysis using InvestingPro tools before making any investment.