Apple Hits First Record This Year on Hopes AI Will Fuel Upgrades.

Apple Inc. shares reached a new intraday record, the first since December, as investor sentiment improves. The stock has risen over 20% since April, adding over $500 billion to its market capitalization and returning it above a $3 trillion market cap. Apple's annual Worldwide Developers Conference showcased features related to artificial intelligence (AI) and announced a partnership with OpenAI, which has fueled hopes for a new iPhone upgrade cycle. Despite the record share price, Apple's stock is only up 3.7% this year, lagging behind other tech companies with more concrete AI exposure. [Extracted from the article]