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Shares of tech titan Apple (AAPL) climbed more than 3% on Feb. 17 after reports surfaced that the company is stepping up its push into artificial intelligence (AI) with a new slate of AI-centric products. While AI has been front and center across the tech landscape in recent years, with nearly every major player aggressively weaving it into their ecosystem, Apple’s advances in this space have often been viewed as underwhelming. That narrative, however, could be shifting.
The iPhone maker, which has faced a lot of criticism over the past year for not fully capitalizing on the AI wave, is reportedly working on AI-powered smart glasses, a wearable pendant, and camera-equipped AirPods, according to Bloomberg. Of course, Wall Street didn’t waste time responding. Investors appeared to welcome the idea that Apple is choosing to strengthen its AI story through high-margin devices, a strategy that contrasts sharply with the massive cloud data center spending spree underway at the hyperscalers.