Will artificial intelligence features power iPhone sales to new heights? Probably not anytime soon, but that doesn’t mean Apple shares are due for a crash from the highs they’ve achieved this year, as some have predicted.
Apple stock, which closed at a record $251.04 on Monday, has gained more than 50% since bottoming out around $165 in April when the company launched Apple Intelligence—the name for its phone-based AI service—to underwhelming reviews. Overall, shares are up 35% on the year, outpacing the S&P 500’s 28% gain, and letting Apple reclaim its spot as the world’s most valuable company.
