Apple (AAPL, Financial) has launched the new iMac desktop computer, equipped with the powerful M4 chip and Apple Intelligence AI features. Priced at $1299, it is available for pre-order with shipping beginning on November 8. The Apple Intelligence feature will also be accessible on qualifying iPhones, iPads, and Macs, with upcoming integrations like ChatGPT in Siri slated for release in December.
The announcement led to Apple's stock rising over 1% at one point, closing with a 0.86% gain. This week is crucial for Apple as they are also set to release their Q4 fiscal 2024 earnings. Apple's Chief Marketing Officer, Greg Joswiak, hinted at the potential unveiling of more M4-equipped Mac computers.
Currently, non-English users, including those in China, cannot access Apple's AI features. Apple plans to introduce localized English support in countries like the UK and Australia by December, with languages such as Chinese, Indian English, French, German, and Japanese to follow next year. Tim Cook mentioned that Apple's AI availability in China is pending regulatory processes.
The first phase of Apple Intelligence includes system-wide AI writing assistants for emails, notes, messages, and more. Users can select text for rewriting in various tones or summarize text in presentations. New photo app updates include improved search and object removal.
In December, more AI functionalities are anticipated, such as an image wand for creating images from sketches and advanced writing tools. iPhone 16 updates will incorporate AI visual interactions, and users will have the option to utilize ChatGPT in writing tools and Siri.
Despite these enhancements, early sales of the iPhone 16 are reportedly sluggish due to the absence of AI features. Analysts predict that while Apple Intelligence might boost iPhone sales in the future, current order reductions suggest it won't happen immediately. Recent data shows a slight decline in Apple's market share in China, while competitors like Huawei have seen growth.
According to reports, Apple Intelligence is not expected to cause a major spike in phone demand during the 2024 holiday season. While investors are hopeful for an AI-driven iPhone upgrade cycle, consumer surveys indicate that AI innovations are not a primary motivation for upgrades; longer battery life and larger storage remain key factors.
