Jim Cramer Predicts AI Will “Drive Refresh For Apple”

CNBC Mad Money host Jim Cramer strongly believes that Artificial Intelligence (AI) integration is the push technology company Apple needs to see the next wave of adoption and relevance.

Apple Way Behind in AI Innovation

In his X post, the 69-year-old Bitcoin critic stated plainly that AI will “drive the refresh” for the iPhone maker.

Cramer thinks taking this AI path will be very good for Apple, as it would drive positive attention to the business. He claimed to have had certain conversations with Tim Cook, Apple CEO, although he did not reveal the subject of their conversation only that it makes him “feel VERY good about VIsionPro.”

Yes, AI will drive the refresh for Apple which will be HUGE but my talk with Tim makes me feel VERY good about VIsionPro.. and i have been very alone on that.. Still am!!

— Jim Cramer (@jimcramer) May 3, 2024

Like the American TV personality, many other individuals agree that Apple is lagging behind its peers in terms of AI innovation. Plus the company has been experiencing a plunge in the volume of attention and engagement it is receiving from the public. For perspective, the tech firm launched VisionPro earlier this year but has had to cut down on production due to low demand.

This market outlook likely prompted Cramer’s statement on AI integration. However, Apple has made its foray into AI in the past with some tools and infrastructural changes.

Apple’s Footprint in the AI World

In February, Apple reportedly stopped working on its electric vehicle project and moved some staff members to its AI project. This was particularly at a time when tech companies were trying to mint heavy revenue out of AI services.

Google launched the updated version of its AI-powered Gemini for Workspace and Microsoft was also busy with its AI projects. A while after, Apple came up with MM1, a Large Language Model (LLM) that suggested rivalry across the AI landscape, engulfing OpenAI’s ChatGPT.

Apple is notably considering pushing more resources and efforts toward its AI section, underscored by a recent statement from Cook. During the company’s Q2 earnings call, held on May 2, Cook, who has been tight-lipped about the company’s AI plans, mentioned to his listeners that Apple is bullish about the opportunities embedded in generative AI. He noted that the company is making significant investments in the technology.

In the long run, the AI integration may place Apple side by side with top AI-inclined companies including NVIDIA.