Investors in Apple ( AAPL -0.82% ) have experienced anxious times recently. The company was feared to have fallen behind in the AI race due to the lack of groundbreaking AI initiatives like those announced by its " Magnificent Seven" peers.
Moreover, after the company's strong, five-year run, some may believe Apple is overvalued. Even Warren Buffett sold a significant 13% chunk of his stake in the iPhone giant during the first quarter. However, Apple stock recently surged back to all-time highs after what appears to be a successful AI-oriented event this week.
But do the new announcements make Apple a buy right now? Apple's pragmatic approach to AI Artificial intelligence (AI) has become a bit of a buzzword recently, with cloud-infrastructure giants spending incredible amounts of money on graphics processing units (GPUs) to build out their own capabilities. However, Apple's consumer focus puts it in a different place. Remember, despite all of Apple's success, it has never actually invented any breakthrough technologies: Apple didn't invent the personal computer.
It didn't invent the first portable MP3 music player. It didn't invent the smartphone. It didn't invent wireless headphones.
It didn't invent the smartwatch. What Apple does do is take existing inventions and perfect them with a unified hardware and software approach, integrating them seamlessly and naturally into how people actually behave, thus incorporating technology into their lives. That appears to be the approa.
