Shares of Apple (AAPL) saw a muted response from its latest announcement at its Worldwide Developers Conference (WWDC) of a partnership with OpenAI — which Microsoft (MSFT) owns 49% of — to integrate ChatGPT with Siri.
Mahoney Asset Management CEO Ken Mahoney joins Catalysts to give insight into Apple and what investors need to keep in mind from Apple’s announcement in terms of its stock performance moving forward.
"You have a huge upgrade cycle that’s going to come out of this. I mean there’s 270 million phones out there that are five years or older. That’s a big opportunity. But as far as the technology, again, I just rely on a lot of other technology research," Mahoney tells Yahoo Finance. "They spent a lot of time on Siri, which I like Siri. I hope Siri does a little bit more like like Siri on steroids with its new AI model and so forth. But I don’t really see as a yawn as more just like, this is Apple, they have 2.2 billion devices out there… CEO Tim Cook did a great job kind of pivoting their focus from hardware sales to really services. And this is really where this is going to blossom."
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