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Apple’s AI Misstep? Nvidia Emerges as Surpassing Value

There are speculations that unless Apple introduces some unexpected artificial intelligence innovations, Nvidia might overtake Apple in market valuation. Currently, Apple and Nvidia hold the positions of the second and third most valuable companies globally, respectively.

No groundbreaking features are anticipated for the iPhone 16 series, and plans for an electric car have been put on hold indefinitely, leaving investors less than thrilled.

Apple is navigating through a notably challenging period, with growing expectations placed upon it. According to analyst Ming-Chi Kuo, Apple could find itself trailing behind Nvidia in market capitalization if it doesn’t soon unveil surprising developments in artificial intelligence.

Nvidia could overtake Apple

Apple's AI Misstep? Nvidia Emerges as Surpassing Value

At the start of the year, forecasts suggested Apple would ship between 220 million and 225 million iPhones. However, analyst Ming-Chi Kuo now predicts the figure may only reach around 200 million units, adjusting earlier projections downwards. The A18 chip, rumored to be featured in the upcoming iPhone 16 series, is expected to include a new Neural Engine designed to power iOS 18’s generative features. Yet, these enhancements are not deemed to be particularly groundbreaking.

Apple is also rumored to unveil its own chatbot, dubbed Apple GPT, at the WWDC 2024 event in June, with plans to integrate generative AI into more of its services subsequently. Nonetheless, Kuo suggests that if Apple’s innovations don’t significantly impress investors, the company may not surpass Nvidia in market value.

CEO Tim Cook has been relatively reserved about Apple’s AI initiatives, though he has indicated that the company will make significant advancements in AI this year, reflecting high expectations in this domain. Cook has also acknowledged substantial investments in AI over recent times. Despite Apple’s promising declarations, it appears the company is in a race to keep pace with rivals like Google and Microsoft, who have established early leads in generative AI. This early adoption has allowed Microsoft to dethrone Apple as the world’s most valuable company.

Nvidia, a key player in providing hardware for generative AI, has seen the most significant surge, with its stock value increasing by 260 percent within a year, setting new records. Currently ranking as the third most valuable company globally, just behind Apple, Nvidia’s market value continues to climb. Meanwhile, Apple’s shares have been on the decline. Presently, Apple’s market capitalization stands at $2.63 trillion, with Nvidia closely trailing at $2.150 trillion.

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