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Apple (AAPL) continues to trend higher, with its stock hitting an all-time high of $260.10 on Dec. 26, pushing the company’s market capitalization even closer to an astounding $4 trillion. This year has been exceptional for Apple investors, with the stock soaring 32% in the year-to-date, significantly outpacing the S&P 500 Index’s ($SPX) 25% return.
Fueling this remarkable rally is growing investor enthusiasm for Apple’s evolving strategy around artificial intelligence (AI). While the tech giant initially lagged behind its peers in AI, Apple is now slowly establishing its presence. The unveiling of “Apple Intelligence” in June, its personal intelligence system combining the power of generative models with personal context and a strategic partnership with ChatGPT, marks a turning point in Apple’s commitment to weaving AI capabilities into its products and services.
