Apple stock approaches new all-time high

Apple shares rose $2.41, or 1.24%, to hit $196.89 at the close of regular trading on Friday, near its all-time high ahead of its WWDC event on Monday, June 10th.

Apple’s all-time high of $199.62 was set during trading on December 14, 2023.

Apple’s market value is currently $3.019 trillion, trailing only Microsoft at $3.15 trillion, and ahead of Nvidia at $2.974 trillion.

At WWDC, Apple is expected to unveil a new AI system it will brand “Apple Intelligence” that will come to next-gen operating system versions for the Mac, iPhone, and iPad, according to Bloomberg News. There also will be a partnership with OpenAI that powers a ChatGPT-like chatbot with privacy and security built in using Apple’s Secure Enclave.

Apple will reportedly rely on its own proprietary Secure Enclave in its M2 Ultra and M4 chips to process cloud AI requests via partners like OpenAI without compromising users’ privacy.

Apple’s Secure Enclave is a dedicated secure subsystem in the latest versions of iPhone, iPad, Mac, Apple TV, Apple Watch, and HomePod. The Secure Enclave Processor runs an Apple-customized version of the L4 microkernel. It’s designed to operate efficiently at a lower clock speed that helps to protect it against clock and power attacks. The Secure Enclave Processor, starting with the A11 and S4, includes a memory-protected engine and encrypted memory with anti-replay capabilities, secure boot, a dedicated random number generator, and its own AES engine.

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MacDailyNews Take: Expect Apple to say “privacy” or “security” at least as many times as they say “Apple Intelligence” in their WDC24 Keynote Address video.
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