In a recent Medium post discussing the likely impact of Apple’s forthcoming earnings report on its stocks and supply chain, Kuo postulated that the tech giant’s progress in the AI field may not be substantial enough to warrant a detailed discussion during its earnings call.

According to Kuo, there’s currently no indication that Apple is planning to launch or incorporate AI computing or hardware products in 2024, implying that AI developments may not significantly boost Apple’s stock value or supply chain dynamics in the near term.

A month ago, Bloomberg’s Mark Gurman reported that Apple was exploring projects under the banner of “Apple GPT”, which were intended to compete with OpenAI’s ChatGPT in the realm of artificial intelligence. However, Gurman suggested that Apple lacks a “clear strategy” for crafting a consumer-oriented product in this domain. Although the possibility of a substantial AI-related announcement in 2024 was hinted at, Gurman maintained that there were no definitive plans at that time.

Apple CEO Tim Cook, during the company’s earnings call in May, acknowledged the existence of “a number of issues that need to be sorted” with respect to AI.

Emphasizing the need for a “deliberate and thoughtful” approach to development, Cook also expressed Apple’s intent to “continue weaving it in products on a very thoughtful basis”, further underscoring the company’s perception of the importance of AI.

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