CUPERTINO – Apple Inc (NASDAQ:). today announced the launch of Private Cloud Compute, an update to its platforms designed to strengthen the privacy of cloud-based artificial intelligence (AI) users. This new feature extends iPhone security measures to the cloud, so users can take advantage of AI without sacrificing their privacy.
Private Cloud Compute enables Apple’s AI to process complex user requests by using server-based models for tasks that require more computing power, while not storing or accessing personal data by Apple. Craig Federighi, Apple’s senior vice president of Software Engineering, highlighted the system’s advanced security architecture and the ability for independent experts to verify these protections.
The update also introduces additional privacy features, including the ability to lock and hide apps on a user’s device. These capabilities are part of Apple’s ongoing efforts to give users more control over their data and privacy. Erik Neuenschwander, Apple’s Director of User Privacy, emphasized the company’s commitment to innovative privacy protections.
Other privacy-focused updates include improvements to Contacts permissions, which allow users to select which contacts they want to share with an app, and the Accessory Setup Kit, which simplifies pairing accessories without exposing other devices on a network.
The new Passwords app, which builds on Apple’s Keychain technology, gives users a secure way to manage their account passwords, Wi-Fi passwords, and two-factor verification codes. Additionally, the updated Privacy & Security section in Settings gives users an overview of app access levels.
iOS 18 includes on-device categorization in Mail, satellite messages in Messages, and a presenter preview in macOS Sequoia to prevent oversharing during video conferences.
The iOS 18, iPadOS 18, and macOS Sequoia developer betas are currently available to Apple Developer Program members. The full software updates, including Apple Intelligence, will be released this fall for iPhone 15 Pro, iPhone 15 Pro Max, and iPad and Mac models with M1 chips or later. These updates support American English for Siri and the language settings on the device.
This information is based on a press release from Apple Inc.
In other recent news, Apple Inc. major steps in its product offering and capabilities. The tech giant has unveiled iOS 18 and iPadOS 18, with improved customization options and the debut of Apple Intelligence, a personal intelligence system. The updates will roll out in the fall and are compatible with iPad models with an M-series chip and select iPhone models.
Apple also announced a strategic shift to using its own server chips for artificial intelligence (AI) processing, which is expected to improve the AI experience across devices. The company has also unveiled new features for its upcoming tvOS 18, aimed at improving the home entertainment experience. In a surprising development, Tesla CEO Elon Musk has threatened to ban the use of Apple devices in his companies if Apple continues to integrate OpenAI into its operating system.
Analysts had mixed reactions to these developments. UBS maintained a neutral rating on Apple’s stock, while DA Davidson and Citi maintained a neutral and buy rating, respectively. These recent developments underline Apple’s commitment to innovation and user experience.
Insights from InvestingPro
In light of Apple Inc.’s announcement on the launch of Private Cloud Compute, investors can consider the latest financial numbers and insights from InvestingPro analysts. In the trailing twelve months to Q2 2024, Apple had a market capitalization of $2.95 trillion USD, reflecting its substantial market presence. The company’s price-to-earnings ratio stands at 30.08, indicating a premium valuation that investors are willing to pay for Apple’s earnings.
An InvestingPro Tip notes that Apple has increased its dividend for 13 years in a row, indicating a strong commitment to returning value to shareholders. This is especially relevant for investors looking for stable income streams alongside growth potential. The company’s dividend yield as of mid-2024 is 0.51%, with dividend growth of 8.7% over the past twelve months, underscoring Apple’s financial health and its ability to increase shareholder payouts.
Still, it’s worth noting that 12 analysts have downgraded their earnings estimates for the period ahead, which could signal caution for those banking on continued robust financial performance. Additionally, the company’s stock is suggested to be in overbought territory based on the Relative Strength Index (RSI), which could indicate a possible pullback or consolidation in the near term.
Investors looking for more detailed analysis and additional InvestingPro Tips can gain more insights by visiting https://www.investing.com/pro/AAPL. There are 18 additional InvestingPro Tips available, which provide a comprehensive picture of Apple’s financial and market position. If you are interested in a subscription, use the coupon code PRONEWS24 to get an extra 10% discount on an annual or semi-annual subscription to Pro and Pro+.
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