Apple Inc.
What Happened: Apple is expected to unveil its AI strategy at the upcoming Worldwide Developers Conference scheduled in June, with Siri being a special focus.
However, many of the on-device AI features rumored to be launched in iOS 18 might require at least iPhone 15 Pro, which uses the A17 Pro chipset, according to a Bloomberg report.
Apple is expected to use a combination of on-device and cloud for AI processing as it looks to debut generative AI features on iPhones.
Apple's A17 Pro chip features faster CPU and GPU cores, a new 16-core Neural Engine capable of 35 trillion operations per second, and increased integrated RAM from 6 GB to 8 GB.
By the time iOS 18 is released to the public, likely in September, the iPhone 15 Pro series will be a year old and Apple will have unveiled the 2024 iPhone 16 lineup.
System requirements for Mac and iPad seem more inclusive, with the cutoff possibly being the M1 chip. This would include models dating back to the 2020 Apple Silicon Macs and the 2021 iPad Pro.
Why It Matters: Apple has reportedly made a billion-dollar bet on generative AI to revolutionize Siri.
Wedbush analyst Dan Ives underscored that Apple has the "best-installed base in the world" when it comes to leveraging it for its AI strategy. Apple currently has over 2 billion users.
The company's AI reorganization plans center around major updates to its personal assistant, Siri.
While Apple's AI play is long overdue, requiring the top-tier iPhone 15 Pro and iPhone 15 Pro Max could be a barrier for some users who have non-Pro models.
Price Action: Apple's shares were down 0.08% in premarket trading on Friday, after closing at $191.29 on Thursday, according to Benzinga Pro.
