Investor’s Business Daily says Wall Street analysts were impressed by Apple’s Monday announcements — especially the news that the tech giant was starting a two-year transition to move its entire Mac line to processors and graphics processing units the company itself developers. Apple’s stock on Tuesday jumped to its second record high in as many days.
“The shift toward Apple silicon for the Mac was the most significant WWDC announcement and highlights how Apple continues to differentiate itself through vertical integration,” Morgan Stanley analyst Katy Huberty said in a note to clients. “Apple sets itself apart from technology hardware peers by developing everything from components to hardware, software and services, which allows Apple to more tightly integrate world-class technologies into products that deliver superior performance and a premium user experience.”
Intel will lose about $3 billion to $4 billion in annual revenue once the Mac transition is complete, Raymond James analyst Chris Caso said in a report. Also, Advanced Micro Devices (AMD) will eventually lose about five million units of graphics chips following the transition as Apple adds its own graphics processors to Macs, he added.
In afternoon trading on the stock market today, Apple stock jumped 2.9%, near 369.30. Earlier in the session, Apple stock notched a record high of 369.49.