Thursday, February 29, 2024 2:43:06 PM
Thursday, February 29, 2024 9:15 am
3 Comments
Apple CEO Tim Cook has been repeatedly asked the same question by investors: What is Apple doing about generative artificial intelligence? His answer: We’re working on it. It’s coming real soon now.
AAPL investors are getting impatient.
Aaron Tilley for The Wall Street Journal:
On Wednesday, Cook once again sought to address the investor concerns, as he has on every quarterly earnings call for the past year.
“We’ve been investing and innovating in AI for many, many years,” he said at the annual shareholder meeting, pointing out several areas where Apple already uses the technology. He added: “We also see incredible breakthrough potential for generative AI, which is why we’re currently investing significantly in this area.” Apple is expected to release generative-AI features in its software at its annual developer conference typically held in June.
MacDailyNews Take: The stalling for time is painfully apparent.
Apple, for years one of the most beloved stocks held by famed investors such as Warren Buffett, has had the weakest stock performance in the past year among its big tech rivals. A slowdown in the company’s core iPhone business has played a major role, but a lack of new artificial-intelligence products has also been a factor.
Microsoft has overtaken Apple as the most valuable company in the world earlier this year, a lead it looks poised to maintain for some time. Among large tech companies, Microsoft has found itself in the lead position in generative artificial intelligence as the largest investor in OpenAI, the startup behind ChatGPT.
MacDailyNews Take: Apple’s time a having a caretaker CEO to milk products and services conceived and created under Steve Jobs will, hopefully, draw to a close sooner than later. For AAPL investors, shares of Apple closed yesterday at $181.42 or 59-cents less than it closed over two years ago on January 3, 2022.
See also:
• Work on Apple Vision Pro began under Steve Jobs – August 23, 2023
• Contrary to popular belief, Steve Jobs knew about Apple Watch – February 13, 2023
With better management, Apple should be worth at least a trillion more than Microsoft currently. But, you can’t achieve those sort of results when you do things like miss transformative technologies like AI because you lack a visionary leader and have to resort to spending and scrambling madly trying to catch up to whatever you’ve blindly missed. – MaDailyNews, January 12, 2024
The difference between an operations guy following a static playbook — reacting to events instead of determining them — versus a visionary genius becomes ever more apparent with each passing year. – MacDailyNews, March 8, 2023
See also:
• Apple acquired 32 AI startups in 2023, the most among major tech companies – February 8, 2024
• Gene Munster: Apple stock likely to get a boost when ‘good enough’ generative AI arrives later this year – January 9, 2024
• Apple caught flat-footed on generative AI; company preps AI features for devices, software – October 23, 2023
• Apple posts number of job listings seeking generative AI talent – May 22, 2023
• Apple reportedly to ‘re-examine’ Artificial Intelligence development – March 8, 2023
Siri’s launch in 2011 made Apple an early entrant in consumer-focused AI products, but the company has since fallen behind in recent years. Siri struggled to keep up with rival voice assistants from Amazon and Google in accuracy and usefulness.
Android competitors have begun introducing new artificial-intelligence features into phones. Rival smartphone-maker Samsung Electronics has recently introduced its latest high-end Galaxy phones that takes advantage of some of the latest advancements in generative AI, with features such as translating languages in real time on phone calls, summarizing notes and editing photos.
MacDailyNews Take: Again, Apple is clearly not as innovative as it was under Steve Jobs who even started the company’s work on Apple Watch and Apple Vision Pro, but the company — thanks to Jobs and Cook’s subsequent management of iterations of products and services conceived during Jobs’ tenure — now has more than enough money to make up for Cook’s lack of vision.
Tim’s not a product person, per se. – Steve Jobs
If Apple can manage to train its generative AI in an unbiased way – a big IF – Apple will be just fine in generative AI soon enough. The company has an install base of more than 2.2 billion active devices in the hands of the highest quality customers; even “good enough” generative AI will be just fine. Anything above and beyond that will just be icing on the cake!
Until it gets another visionary leader (fingers crossed; Apple’s history has shown – cough, Sculley, Spindler, cough – that the next CEO could be far, far worse than the very competent caretaker Cook), Apple can afford to miss things like generative AI – which they clearly did – and then use its huge war chest to catch up – which they’re doing right now (fun times and 80-hour weeks inside Apple Park!) – and, hopefully, surpass rivals (or at least be as good). Apple will very likely unveil their catch-up work within months (this June at WWDC 2024) in iPhones (and iPads, Apple Watches, etc.) with built-in on-device generative AI and other new AI-driven features. – MacDailyNews, February 14, 2024
Related
Apple CEO Tim Cook still hasn’t introduced a mega-hit and investors are growing impatient
Wednesday, November 23, 2016
In "News"
Don’t blame Tim Cook for Apple’s stock price fall
Tuesday, April 23, 2013
In "News"
Is it time for Tim Cook to leave Apple?
Monday, December 30, 2013
In "Opinion"
https://macdailynews.com/2024/02/29/investors-impatient-as-apple-conspicuously-lags-in-generative-ai/#google_vignette
Recent AAPL News
- Nvidia Profits Set to Challenge Historic High Market; GE Aerospace Announces New Hires, and More News • IH Market News • 05/22/2024 10:37:09 AM
- Apple and Île-de-France Mobilités introduce Navigo card for iPhone and Apple Watch • Business Wire • 05/21/2024 03:30:00 PM
- CalPERS to Oppose Exxon Mobil Directors; Microsoft Unveils Copilot+ PCs with AI Focus, and More News • IH Market News • 05/21/2024 11:18:35 AM
- Li Auto Stocks Drop Post Earnings; Calhoun Re-elected to Boeing Board, and More News • IH Market News • 05/20/2024 11:03:22 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 10:30:33 PM
- Chubb Stock Soars 9% with Berkshire Acquisition, AST SpaceMobile jumps 37% on AT&T deal, and More News • IH Market News • 05/16/2024 11:27:07 AM
- Apple announces new accessibility features, including Eye Tracking, Music Haptics, and Vocal Shortcuts • Business Wire • 05/15/2024 02:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 10:30:21 PM
- Walmart Corporate Job Cuts and Office Centralization, GameStop and AMC Surge, and More News • IH Market News • 05/14/2024 11:26:02 AM
- Apple Music celebrates the greatest records ever made with the launch of inaugural 100 Best Albums list • Business Wire • 05/13/2024 01:00:00 PM
- Arm Sets 2025 Target for AI Chip Development, Amazon and Microsoft Commit Billions to French Investments, and More • IH Market News • 05/13/2024 11:16:03 AM
- Weekly Surge for Render and Toncoin, US Bancorp Expands Bitcoin ETF Investments, and More in Crypto • IH Market News • 05/10/2024 07:32:06 PM
- Novavax Surges 57% Post $1.4 Billion Sanofi Deal; Apple Boosts Data Centers with AI and Internal Chips, and More News • IH Market News • 05/10/2024 12:02:56 PM
- Bain Capital in Talks to Acquire PowerSchool; Blackstone Emerges Victorious in Hipgnosis Bidding War, and More News • IH Market News • 05/09/2024 11:53:19 AM
- Meta Platforms Expands AI Ads, Apple Boosts iPhone Shipments, and More Highlights • IH Market News • 05/08/2024 12:27:48 PM
- Apple unveils stunning new iPad Pro with the world’s most advanced display, M4 chip, and Apple Pencil Pro • Business Wire • 05/07/2024 02:37:00 PM
- Apple unveils the redesigned 11-inch and all-new 13-inch iPad Air, supercharged by the M2 chip • Business Wire • 05/07/2024 02:37:00 PM
- Apple introduces M4 chip • Business Wire • 05/07/2024 02:37:00 PM
- Final Cut Pro transforms video creation with Live Multicam on iPad and new AI features on Mac • Business Wire • 05/07/2024 02:37:00 PM
- Logic Pro takes music-making to the next level with new AI features • Business Wire • 05/07/2024 02:37:00 PM
- Tesla’s April Sales Down 18% in China, Amazon’s Multi-Billion Dollar Cloud Expansion in Singapore, and More News • IH Market News • 05/07/2024 11:44:00 AM
- Index Futures Point to Strong Monday Opening, Building on Last Week’s Gains; Oil Prices Rise • IH Market News • 05/06/2024 12:09:15 PM
- Perficient Stock Soars 52.9% Post-Acquisition; Luminar Declines 10% Amid Workforce Cutbacks, and Other News • IH Market News • 05/06/2024 12:09:00 PM
- Jobs Data, Apple Earnings Contribute To Extended Rally On Wall Street • IH Market News • 05/03/2024 08:25:49 PM
- Jobs Data, Apple Earnings May Lead To Extended Rally On Wall Street • IH Market News • 05/03/2024 01:09:33 PM
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM