Shares in Apple stock (AAPL) have been down in the past week despite the tech giant announcing its new MacBook Air. The new laptop will utilize Apple’s most advanced AI chips, the M5 Max and M5 Pro. Apple teased the announcement late last week, sparking analysts to suggest an AAPL stock rally may come this week. However, the news appeared to disappoint those bullish investors.
Apple is still hosting a special “experience” on Wednesday, March 4, which could flip the switch. Apple typically refers to its launches as events if they’re announcements, and it normally hosts its reveals on Tuesdays. The event will likely highlight the newest capabilities of the next MacBook Air.
The stock market’s lukewarm response to the MacBook lineup comes as industry watchers appear keener on the release of an AI-enhanced version of the Siri digital assistant, which some expect to be Apple’s clearest statement yet of its readiness for the new era of AI. Apple has lagged behind the rest of the tech industry in its efforts to dominate the AI sector. Therefore, the new MacBook with a new AI chip didn’t receive a warm welcome.
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Furthermore, CNBC analyst Jim Cramer believes that Apple (AAPL) is benefitting from the AI surge without investing billions like its tech rivals, thanks to a recent deal. Indeed, Apple’s existing Google Gemini deal could help balance out its otherwise lackadaisical efforts in the AI sector. Speaking on a recent episode of his Mad Money TV program, Cramer said, “Look, Apple got the greatest free ride ever. They have the best, Gemini. . .”