It’s easy to understand why artificial intelligence (AI) has been Wall Street’s new shiny toy in 2023, as the technology allows us to achieve digital feats that otherwise felt impossible.
And, of course, several big-tech players, including Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) , have been scurrying to become the leader.
However, what if Apple (AAPL - Free Report) could be another AI play hidden in plain sight? Let’s take a closer look at AI developments surrounding all three companies.
Apple
During the company’s most recent earnings call in early February, the topic of artificial intelligence came up. CEO Tim Cook undoubtedly has a positive view of the technology, claiming that AI will affect nearly all product and service offerings.
Interestingly enough, the legendary tech titan has already implemented the technology in several areas, including within the Apple Watch and the iPhone. Perhaps to the surprise of some, Apple’s Siri is powered by artificial intelligence.
So, while Apple may not be making flashy headlines surrounding the technology, it’s very much alive within the company.
The company posted worse-than-expected results, falling short of both earnings and revenue estimates in the face of a challenging business environment. It’s worth noting that the miss snapped a long streak of double beats.
Microsoft
Microsoft gained widespread investor attention following announcements of a new AI-powered Bing search engine and Edge browser.
The new search engine and Edge browser are expected to deliver enhanced search results, complete answers, a new chat experience, and an overall much easier experience when exploring the web.
On top of AI exposure, MSFT shares provide a modest income stream; the company’s annual dividend presently yields 1.1%, with the tech titan boasting an impressive 10.3% five-year annualized growth rate.
Alphabet
Alphabet recently unveiled its new conversational AI service, Bard, which is powered by its next-generation LaMDA (language model for dialogue applications).
Bard is expected to deliver high-quality responses drawn from the web, pairing the globe’s knowledge with the power of Alphabet’s LaMDA.
GOOGL shares have gotten cheaper following rough price action in 2022, with the company’s 17.6X current forward earnings multiple sitting well beneath the 26.1X five-year median and highs of 34.5X in 2021.
Bottom Line
While the market continues to clamor about Microsoft’s (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) AI developments, Apple has seemingly flown under the radar.
It’s important to know that Apple (AAPL - Free Report) has already thrown its hat in the artificial intelligence arena, as seen with the iPhone’s Siri and the Apple Watch.
With such a rich history, could Apple eventually become a leader in AI?
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It’s easy to understand why artificial intelligence (AI) has been Wall Street’s new shiny toy in 2023, as the technology allows us to achieve digital feats that otherwise felt impossible.
And, of course, several big-tech players, including Microsoft (MSFT - Free Report) and Alphabet (GOOGL - Free Report) , have been scurrying to become the leader.
However, what if Apple (AAPL - Free Report) could be another AI play hidden in plain sight? Let’s take a closer look at AI developments surrounding all three companies.
Apple
During the company’s most recent earnings call in early February, the topic of artificial intelligence came up. CEO Tim Cook undoubtedly has a positive view of the technology, claiming that AI will affect nearly all product and service offerings.
Interestingly enough, the legendary tech titan has already implemented the technology in several areas, including within the Apple Watch and the iPhone. Perhaps to the surprise of some, Apple’s Siri is powered by artificial intelligence.
So, while Apple may not be making flashy headlines surrounding the technology, it’s very much alive within the company.
The company posted worse-than-expected results, falling short of both earnings and revenue estimates in the face of a challenging business environment. It’s worth noting that the miss snapped a long streak of double beats.
Microsoft
Microsoft gained widespread investor attention following announcements of a new AI-powered Bing search engine and Edge browser.
The new search engine and Edge browser are expected to deliver enhanced search results, complete answers, a new chat experience, and an overall much easier experience when exploring the web.
On top of AI exposure, MSFT shares provide a modest income stream; the company’s annual dividend presently yields 1.1%, with the tech titan boasting an impressive 10.3% five-year annualized growth rate.
Alphabet
Alphabet recently unveiled its new conversational AI service, Bard, which is powered by its next-generation LaMDA (language model for dialogue applications).
Bard is expected to deliver high-quality responses drawn from the web, pairing the globe’s knowledge with the power of Alphabet’s LaMDA.
GOOGL shares have gotten cheaper following rough price action in 2022, with the company’s 17.6X current forward earnings multiple sitting well beneath the 26.1X five-year median and highs of 34.5X in 2021.
Bottom Line
While the market continues to clamor about Microsoft’s (MSFT - Free Report) and Alphabet’s (GOOGL - Free Report) AI developments, Apple has seemingly flown under the radar.
It’s important to know that Apple (AAPL - Free Report) has already thrown its hat in the artificial intelligence arena, as seen with the iPhone’s Siri and the Apple Watch.
With such a rich history, could Apple eventually become a leader in AI?
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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