On Monday Apple unveils its new iPhone 16 models. They will be jam-packed with artificial-intelligence features, including an upgrade to Siri, Apple’s previously dimwitted digital assistant. (Though the full software update probably won’t be available until later this year). True to Apple’s love of design, the whole screen will glow colourfully when active. Apple hopes that new AI features will encourage users to upgrade. iPhones account for half of the firm’s revenue, though sales growth has slowed in recent years as competition intensifies and markets become saturated. But investors’ perception of Apple as an “AI
stock” has given it a boost. Since announcing the iPhone’s new features in June, the firm’s share price has risen by 14%, compared with 3% for the S&P 500, an index of big American firms. That said, a recent survey suggests new features rarely convince iPhone users to upgrade. Nevertheless, Apple will hope its new iPhones get glowing reviews.
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