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If AI replaces search, it could cost Apple billions.
Apple's (AAPL -0.19%) new artificial intelligence tools have caused a pop in the stock, but will they be good for the business? More device sales would be bullish, but if AI replaces searches that generate $20 billion in annual revenue from Alphabet (GOOG -0.26%) (GOOGL -0.18%), it would be bad for Apple's bottom line.
*Stock prices used were end-of-day prices of June 14, 2024. The video was published on June 16, 2024.
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet and Apple. The Motley Fool has positions in and recommends Alphabet, Apple, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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