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Apple Shares Slide Nearly 2% On WWDC 24 Day: Magnificent 7, Tech Stocks Hold Gains

Apple Inc. (NASDAQ:AAPL) shares closed 1.91% lower on Monday in reaction to the highly anticipated Worldwide Developers Conference (WWDC) 2024, where the Cupertino tech giant unveiled new advancements in artificial intelligence. What Happened: At WWDC 2024, Apple introduced “Apple Intelligence,” a systemwide software update that promises to offer a personalized generative AI experience for users. The new iOS 18, powering its flagship devices, allows for a more customizable iPhone home screen and includes enhanced versions of its in-house apps. Siri, the voice assistant, will now better understand natural language, process contextual information and perform actions within apps. The AI features will be integrated with the latest device software, enabling users to summarize text and generate content such as personalized birthday animations. Privacy remains a core focus, with most ...