Published on 1 Jun 2024 on Motley Fool via Yahoo Finance
Artificial intelligence (AI) has been all the rage since early last year, with many of the biggest companies in technology staking their claim. For example, a number of the so-called "Magnificent Seven" stocks have been extremely forthcoming about their plans to profit from the windfall resulting from the rapid adoption of AI, and several of these same stocks have generated market-beating returns this year.
One member of the collective that's been curiously left out of the conversation is Apple (NASDAQ: AAPL). The iPhone maker has historically kept its plans and product upgrades close to the vest, including its intentions regarding the deployment of generative AI. This, combined with lackluster iPhone sales, has plagued Apple's share price, which is essentially flat in 2024.