Just days before the company’s Worldwide Developer’s Conference (WWDC), Apple (AAPL) shares closed in positive territory for 2024. This development also comes after its quarterly report in early May eased investor concerns about growth and sales in China. Bank of America Securities Senior IT Hardware Analyst Wamsi Mohan joins Market Domination to discuss what to expect from Apple’s conference.

A change in the way consumers use iPhones is coming, Wamsi explains. While WWDC is generally not a “huge” event for investors, the analyst says things may be different this time. Apple may announce its AI-powered Siri and other “back-end” AI agents that may make productivity “significantly better,” Wamsi states.

Wamsi adds that Apple will likely find a way to monetize directing its millions of users to AI technology by the likes of OpenAI or Google (GOOG, GOOGL).

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This article was written by Gabriel Roy