Apple Inc.New Siri AI beta in iOS 27 fuels rally, showing concrete AI capabilities.
Apple shares surged to a record high on Wednesday after the release of the new Siri AI beta in iOS 27, with the stock climbing 4.01% to close at $327.50 and touching an intraday all-time high of $328.73. Deepwater Asset Management managing partner Gene Munster said the beta gives investors concrete evidence of Apple's AI capabilities, calling the experience 'like having a new phone' and comparing the setup to the one that fueled Google's sharp rerating in April 2025. Analyst Ming-Chi Kuo noted the rally was consistent with his pre-WWDC 2026 forecast of a positive share-price trend in the second half of 2026. The gains also followed China's approval of Apple Intelligence, allowing the company to roll out on-device generative AI features using models from Baidu and Alibaba.
Apple Inc.New Siri AI beta in iOS 27 fuels rally, showing concrete AI capabilities.
Baidu IncChina's approval of Apple Intelligence uses Baidu models, boosting demand for Baidu's AI services.
Alibaba Group Holding LtdChina's approval of Apple Intelligence uses Alibaba models, boosting demand for Alibaba's AI services.
Astera Labs, Inc.
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