Apple Inc.'s recent internal restructuring to bolster its artificial intelligence capabilities has caught the attention of investors. The appointment of Kim Vorrath, a seasoned project manager, to lead the AI team under John Giannandrea signals Apple's strategic focus on enhancing Siri and closing the gap with AI frontrunners like OpenAI. Despite these promising developments, Apple's stock experienced a decline, closing at $222.78, down 0.39% from the previous day. This dip reflects investor caution as the company temporarily removes certain AI features in the upcoming iOS 18.3 update due to accuracy concerns.
The Direxion Daily AAPL Bear 1X Shares ETF (AAPD) saw a modest increase, closing at $17.17, up 0.41% from its previous close of $17.10 on Friday, January 24.