Shares

Apple in AI talks with Google for its iPhone

Russell Shor Written by Russell Shor
  • AAPL.us
    (${instrument.percentChange}%)

Comment

Apple is in talks with Google to use Gemini artificial intelligence in the iPhone. Gemini is Google's suite of generative AI tools and may be integrated into iPhone software later this year - Apple may release iOS 18 at its June Worldwide Developer's Conference.

Moreover, according to Bloomberg sources, Apple has also discussed using OpenAI's model but the two have not finalised terms, branding, or implementation.

Apple shares were slightly up in premarket trading, but its technical picture does show difficulties for the stock.

Technical Analysis


Source: www.tradingview.com

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The weekly chart shows that Apple has charted a lower peak followed by a lower trough. This puts the stock into a defined downtrend. We note that there is underlying support at the $165 level (green horizontal line).

However, of concern is the stochastic. It has dropped into its lower quintile (green rectangle) denoting a strong momentum to the downside. If the stochastic holds at current levels, Apple's stock is in danger of breaking down though its underlying support at $165, and heading lower.

Image by Nick from Pixabay

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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