Are big tech companies finally moving in the right direction? New deal could bring Google AI to iPhone – Apple (NASDAQ:AAPL), Direxion Daily AAPL bears 1x stock (NASDAQ:AAPD)

Recently, the following news broke out Google (NASDAQ:GOOL) in negotiations apple (NASDAQ:AAPL) integrates Gemini AI into iPhone. The partnership is likely to be a big win for Google, while also boosting the company’s AI reputation, which has suffered from public image issues. For Apple, this will allow the company and its products to stay ahead of advances in AI.

fall behind

When OpenAI released ChatGPT 3 to the public in late 2022, an arms race began in Silicon Valley. microsoft (NASDAQ:MSFT) is partnered with OpenAI and is the current king. The company’s stock price has risen almost 50% in one year. Meanwhile, Apple and Google are struggling to catch up.

In a rush to catch up with Microsoft, Google released an answer to ChatGPT (Bard). Google’s rebranded AI platform Gemini is in trouble. LLM has so far failed because it is prone to hallucinations.

Apple’s performance worsened further. The once-largest company has no AI platform at all. We can only speculate as to how the innovative technology giant was caught unawares, but the damage to Apple’s image is real. The company’s stock is up less than 4% in a year, while the market is up nearly 30%.

saving grace

Although details are still being finalized, the agreement between the two companies will be a major boost for both parties. Google’s stock price rose 5% on the day the news was announced, and has since risen another 3%. Apple’s stock price rose modestly by 0.5% on the day, but continued to fall afterward due to other bad news from the company.

max view

For Google and Apple bulls excited about this news, Direxion offers: Direxion Daily GOOGL Bull 2X Share (NYSE:GGLL) and Direxion Daily AAPL Bull 2X Share (NYSE:AAPU) seeks daily investment results of 200% of the performance of Alphabet Inc. Class A stock and Apple Inc. common stock, excluding fees and expenses.

Direxion is for bears. Direxion Daily GOOGL Bear 1X Share (NYSE:GGLS) and Direxion Daily AAPL Bear 1X Stock (NYSE:AAPD) seeks daily investment results of 100% of the reciprocal of the performance of Alphabet Inc. Class A stock and Apple Inc. common stock, respectively, before fees and expenses.

Featured photos Chris Liverani upon unsplash