Apple has briefly overtaken Microsoft to become the world's most valuable company. The Cupertino-based iPhone maker is still unable to reach Microsoft's valuation. Currently, Microsoft's market cap is at $3.28 trillion, while Apple is settled at $3.27 trillion. The two companies are expected to continue battling for the top spot. NVIDIA is another contender, hovering around a market cap of $3 trillion. The chipmaker has managed to overtake Apple ahead of the WWDC event.
Apple's ascension from third place to the top spot can be attributed to WWDC 2024. The biggest highlight was undoubtedly the introduction of AI (Apple Intelligence), which seems to be a pun on artificial intelligence. Apple introduced a host of new features that incorporate AI into its devices.
Apple Intelligence enables system-wide AI features like lighting tools in iOS 18. But the biggest change comes to the virtual assistant, Siri: the AI-powered assistant can perform system-based actions like finding a specific photo or retrieving information about an upcoming flight from your email.
However, all existing iPhone users may not be able to get these features without upgrading their devices. Apple Intelligence features are only available on the iPhone 15 Pro and iPhone 15 Pro Max. Other devices, including the latest iPhone 15 and iPhone 15 Plus, do not have many features available due to hardware limitations. These features require Apple's A17 Pro chip.
In addition to iPhone, Apple Intelligence features are also available on iPads and MacBooks. All iPads and MacBooks powered by Apple Silicon (M-series chips) will get the new features.
Apple has lagged behind Microsoft, Google, OpenAI, and NVIDIA in terms of riding the AI wave. But with this announcement, it is back on the AI bandwagon. Apple is also partnering with OpenAI to provide assistance for more complex AI queries that on-device AI cannot handle. The company has also privately hinted at partnering with Google in the future on the Gemini AI model.
