What to Expect Today From the Apple WWDC Event

Ed Ludlow discusses Apple's need for a standalone Siri app to compete with ChatGPT, Intel's potential as a backup chipmaker for Google/Nvidia, and SpaceX's strategic IPO pricing at $135/share with a new hyperscaler compute story.

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What to Expect Today From the Apple WWDC Event

AAPL

ndx

Apple is second-best performer on Nasdaq 7 this year, with positive sentiment around AI transition and leadership change, suggesting near-term upward bias.

rut

No direct mention of small caps; focus is on large-cap tech (Apple, Intel, SpaceX), implying no strong directional view on Russell 2000.

Tom

Consumers don't know what unique AI features Apple offers; Mark Gurman reports a standalone Siri app akin to ChatGPT is coming.
Paul

Lists AI tools used (Gemini, Claude, Perplexity) and questions why Siri is needed if these exist on iPhone.
Ed Ludlow

Siri's key advantage is cross-device continuity across 2.5B Apple devices, enabling multi-step actions with context, unlike current single-command Siri.
Ed Ludlow

Intel's 13% stock surge is due to reports Google and Nvidia approached Intel as a backup chip manufacturer; Intel's foundry business lacks a major anchor customer.
Tom

This is Tim Cook's last WWDC; Apple's stock is outperforming despite no AI story, partly due to smooth leadership transition.
Ed Ludlow

Apple's stock is the second-best performer on the Nasdaq 7 this year, driven by positive sentiment around the CEO transition.
Tom

SpaceX IPO pricing expected Thursday, trading Friday; priced at $135/share pre-roadshow, valuing company at $1.77T.
Ed Ludlow

The $135 IPO price is strategic to allow Wall Street to push it higher (e.g., $141.50); SpaceX is introducing a new story: Google will pay $925M/month for compute, making SpaceX a hyperscaler selling compute capacity.
Paul

Questions how the roadshow is adjusting given the new compute story and J.P. Morgan's involvement.

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