Apple Inc (NASDAQ:AAPL) is reportedly revamping Siri after executives Craig Federighi and John Giannandrea tested OpenAI's ChatGPT, per the The New York Times. The overhaul, driven by concerns over AI's impact on the smartphone market, marked Apple's reorganization towards generative AI.
Per the newspaper's report, the new Siri promises improved conversational abilities and is set to debut at Apple's developers conference.
Despite advantages like device distribution and semiconductor technology, Apple has struggled to develop a comprehensive AI strategy.
The New York Times report highlighted how Apple enhanced Siri's capabilities rather than creating a chatbot like ChatGPT. Instead, the company was improving Siri's existing functions such as setting timers, managing appointments, creating lists and summarizing text messages.
Challenges at Apple meanwhile include resource allocation within the company and difficulties recruiting and retaining AI talent due to its secretive approaches to the new technology.
AAPL Price Action: Apple shares are lower by some 0.72% to $182.99 Friday at publication.
How To Buy AAPL Stock
By now you're likely curious about how to participate in the market for Apple, be it to purchase shares or even attempt to bet against the company with options trading.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy "fractional shares," which allows a person to own portions of stock without buying an entire share. For example, some stock, such as Berkshire Hathaway or Amazon, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you.
In the case of Apple, which is trading at $182.88 at time of writing, $100 would buy you 0.55 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to "go short" a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if a broker allows you to trade options, buy a put option or sell a call option at a strike price above where shares are currently trading — either way it allows you to profit off of the share price decline.
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