Alphabet shares are trading lower following a report suggesting Apple is working on AI tools. This could cause competitive pressures for the company in the AI space.
Portfolio Pulse from Benzinga Newsdesk
Alphabet's shares are trading lower due to a report suggesting that Apple is developing AI tools, which could increase competition in the AI sector.
July 19, 2023 | 5:10 pm
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NEUTRAL IMPACT
Apple's reported development of AI tools could potentially increase competition in the AI sector.
While the news of Apple developing AI tools could potentially increase competition in the AI sector, it's unclear at this stage how this will impact Apple's share price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Alphabet's shares are trading lower due to potential increased competition in the AI sector from Apple's reported AI tools development.
The news of Apple developing AI tools could potentially increase competition in the AI sector, which could negatively impact Alphabet's market position and share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100