Apple Shares Higher As Hiring Accelerates
While Apple accelerates hiring for its artificial intelligence staff, The company stock is surging 2.21% to $111.69 in pre-market trading on Tuesday. In order for them to better compete with Google, Apple is currently expanding its artificial intelligence staff by hiring an additional 86 employees with knowledge of machine learning, which allows devices to predict users’ behaviour from past actions.
Having the reputation of protecting users’ information, Apple must analyse machine learning data on individual iPhones, rather than within the cloud, which is more difficult. Partly because of the obstacles posed by these privacy concerns, some people are convinced that Google and similar tech companies are more adept at spotting larger trends. However, if Apple succeeds at machine learning without compromising its users’ privacy, the company will have set a new standard for its peers.
Besides that, Apple is hosting an event tomorrow during which the company is expected to reveal new iPhones, an improved Apple TV and a couple of software updates. Several analysts rate AAPL as a Buy with a rating score of B+. Some reasons behind this rating are the company’s solid stock prices performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and notable return on equity.
