Jim Cramer Bullish On Apple After AI Breakthroughs At WWDC 2024: 'Beginning Of Generative AI For Personal Use, Not Corporate Use'


Jim Cramer, CNBC’s host, has expressed increased optimism for Apple Inc. AAPL following the company’s Worldwide Developers Conference.

What Happened: Cramer praised Apple’s latest advancements in artificial intelligence, unveiled at the conference. The new AI, named Apple Intelligence, will be integrated into the operating systems for iPhone, iPad, and Mac, enhancing user experience with more personalized and advanced services.

"You can imagine yourself, see yourself, learn about yourself, all at the same time, and no one can steal your info," Cramer said. "To me, that's a good deal — one that enhances your life and will, eventually, enhance the stock."

Apple Intelligence can generate photos from a user’s library, perform new tasks, and prioritize notifications based on context. It can also retrieve files sent by contact during a specific time frame and alert users about potential scheduling conflicts. The Siri program will now be able to utilize OpenAI‘s ChatGPT.

Cramer applauded these innovations, stating that they represent a significant step forward in AI use beyond enterprise. He also appreciated Apple’s emphasis on security and privacy as it handles large volumes of personal data.

“This Apple conference marked the beginning of generative AI for personal use, not corporate use,” Cramer said. He believes that the data in an iPhone can provide valuable insights and predictions, making life easier and more enjoyable for users.

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Why It Matters: Apple’s new AI feature, Apple Intelligence, also includes a custom emoji generator named “Genmoji”, which allows users to create a range of emoji based on their prompts.

However, the new AI feature will be limited to iPhone, iPad, and Macs, and won’t be available on all of its platforms at launch.

Gene Munster, managing partner at Deepwater Asset Management, also expressed his confidence in the potential of Apple's new AI features to drive growth beyond current estimates.

Furthermore, Apple could potentially partner with Chinese tech giants Baidu Inc. and Alibaba Group Holding for its AI features in China, according to Munster.

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Image created using photos on Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

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