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Dear Fellow Investor,
Morning. Hope this finds you well.
With the artificial intelligence boom showing no signs of cooling off, keep an eye on Apple.
Apple (AAPL) is winding down its electric vehicle efforts, and focusing more on generative artificial intelligence â a market that could be worth about $1.3 trillion by 2032, according to Bloomberg Intelligence.
âRising demand for generative AI products could add about $280 billion of new software revenue, driven by specialized assistants, new infrastructure products, and copilots that accelerate coding. Companies like Amazon Web Services, Microsoft, Google and Nvidia could be the biggest beneficiaries, as enterprises shift more workloads to the public cloud,â they added.
No wonder Apple wants a piece.
So far, as noted by CNBC, the company sees âincredible breakthrough potential for generative AI, which is why weâre currently investing significantly in this area,â Cook said at Appleâs annual shareholder meeting. âWe believe it will unlock transformative opportunities for our users when it comes to productivity, problem-solving and more.â
Better, the company expects to have a major AI announcement later this year.
Other stocks to keep an eye on include:
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