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Key Takeaways
- The release of Apple’s highly anticipated AI features will reportedly miss the initial launch of its upcoming iPhone and iPad software revamps.
- The company expects to release Apple Intelligence to customers as part of software updates in October, several weeks after the initial September launch of iOS 18 and iPadOS 18, Bloomberg reported.
- Apple remains on track to make its AI technology available to software developers for beta testing as early as this week, the report said.
- The iPhone maker is also scheduled to release it’s quarterly earnings report on Thursday.
- A bars pattern, which extracts the price move from the stock’s trending period between January and July last year and applies it to the late April swing low, forecasts a potential target in Apple shares of around $256.
Apple (AAPL) shares are in focus after Bloomberg reported on Sunday that the tech giant’s highly anticipated artificial intelligence (AI) features will miss the initial launch of its upcoming iPhone and iPad software revamps.
The company, which reports earnings after the closing bell on Thursday, anticipates releasing Apple Intelligence to customers as part of software updates in October, several weeks after the initial September launch of iOS 18 and iPadOS 18, the report said, citing people with knowledge of the matter.
The company remains on track to make its AI technology available to software developers for beta testing as early as this week, the report said, adding that concerns about the stability of Apple Intelligence features contributed to the decision to separate its rollout from the updated operating systems.
Apple, initially slow off the mark to enter the AI race compared to its big tech rivals, unveiled Apple Intelligence at its annual Worldwide Developers Conference in June, hoping it will supercharge sales of its new devices. The technology aims to offer personalized intelligent assistance to users through features including prioritization of key notifications, tools for summarizing content, and the integration of Open AI’s ChatGPT.
The tech behemoth plans to roll out its full suite of Apple Intelligence features through iOS 18 updates towards the end of this year and in the first half of 2025.
Monitor This Key Price Level in Apple Shares
Apple shares initially trended higher for several weeks after breaking out from a ten-month trading range on heavy volume in early June, but have undergone a retracement after setting a new record higher earlier this month.
Despite the pullback, the 50-day moving average (MA) recently crossed above the 200-day MA to form a bullish golden cross pattern, a chart signal interpreted by technical analysts as marking the start of a new uptrend.
Investors can forecast a potential price target by using a bars pattern. We do this by extracting the price move from the stock’s trending period between January and July last year and applying it to the late April swing low, which forecasts a target of around $256.
Apple shares were little changed at $218.00 in premarket trading around two hours before Monday’s opening bell.
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