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Why Apple Stock Soared 15% in May
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Apple (NASDAQ: AAPL) stock rose 15% in May, according to data provided by S&P Global Market Intelligence. There was no news specific to Apple, but it's benefiting from market confidence in artificial intelligence (AI) and Apple's opportunity to leverage it.Apple stock is back in action as investors flock to all kinds of AI stocks. Apple was expected to launch an AI program similar to its tech giant peers like Microsoft and Amazon, but it never materialized. Instead, Apple focused on its popular hardware, and specifically, the iPhone.While the market wasn't too thrilled about it at first, the massive iPhone sales increases over the past few quarters have proven that it's been the right strategy. The iPhone is Apple's bread and butter, and focusing on that lead instead of diluting it through expanding out of its dominant space has been a winning approach.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Quelle: MotleyFool
