Apple's developer conference on Monday was about more than infusing its software with the latest artificial intelligence technology, including from ChatGPT.Facing choppy consumer spending and resurgent tech rivals, Apple has looked to AI as a way to invigorate its loyal fan base of more than 1 billion customers and to reverse a sales decline for its biggest-selling product.
Shares of Apple were 3.3% higher at a record in early trading on Tuesday, after closing nearly 2% lower on Monday. Some analysts voiced skepticism, predicting consumers would not race to Apple stores to get more AI on their phones. In Wedbush Securities analyst Dan Ives' view, that represents a big opportunity. He estimated some 270 million iPhones had not been upgraded in four years.
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