Apple Stock Rises on AI AirPods and Foldable iPhone Report

AAPL +0.93%

This article first appeared on GuruFocus.

Apple (NASDAQ:AAPL) shares rose about 1% after Bloomberg reported that the company is developing an updated AirPods model and a second-generation foldable iPhone. Apple is targeting 2027 for the new earbuds, according to Bloomberg.

The report said the AirPods would carry cameras built for artificial intelligence functions, which would make them Apple's first AI wearable. Apple would not use the lenses for photos or video; instead, they are expected to help Siri interpret visual surroundings, such as identifying ingredients in front of a user.

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Bloomberg said the camera-equipped AirPods were originally slated for release this year, but software issues tied to Apple's AI efforts pushed the launch back. Apple is also working on a second-generation foldable iPhone, codenamed V78, even as the first version remains scheduled to arrive later this year despite reported development hiccups.