00:00 Speaker A
We're looking at Alphabet and Apple right now. This comes after CNBC reported that Apple plans to use Google's Gemini to power Siri's AI capabilities. This follows reports last summer that the two companies were in talks. This report came from Bloomberg.
00:15 Speaker A
Now, CNBC cites an internal memo from both companies saying that this partnership is indeed happening. In response to this, we saw Apple and Alphabet stock prices jump a bit when this headline first broke. Alphabet's market capitalization briefly exceeded $4 trillion. Well, I remember being the third company to cross that threshold after Nvidia and Apple itself. Apple stock went up, I remember it was about 8.5% last year, um, Alphabet stock did much better last year as well. That's about 65%. So we've seen an extension of these gains.
00:48 Speaker A
Now, the stock is moving a little bit again, but as you know, one of the big open questions for Apple is how they're going to integrate AI capabilities into their devices. Perhaps this will get you a little closer to answering that question. We'll be keeping an eye on developments to see if we get more details and, of course, to see how the stock price reacts.
