Apple Inc. shares are rising after the WWDC presentation and demonstration of the company’s plans to use artificial intelligence. Bloomberg writes about it at .

On June 11, Apple shares soared 7.3% to $207.15. The tech giant broke its previous record for one-day gains set in November 2022.

The company’s market capitalization increased by $215.1 billion, which is one of the largest one-day gains in value of any company in history.

The record was achieved after the annual WWDC, during which the company demonstrated a number of AI-related features and announced an OpenAI partnership.

The company’s shares have risen by more than 25% since the April low, bringing Apple’s market capitalization back above $3 trillion and bringing it close to regaining the title of the most expensive company.

“The addition of AI features to the newest iPhone comes at an ideal time for Apple,” wrote LightShed analyst Walter Piecyk. “IPhone revenue has been stagnant, and the vast majority of its installed base has old phones as the upgrade cycle slowed to record lows.”

Concerns about the company’s growth were also eased by a positive quarterly report in early May, when Apple announced the largest share buyback program in U.S. history, worth $110 billion.

May was the best month for Apple shares since July 2022 – but despite the record share price, Apple is up only 7.6% this year. The company lags behind the Nasdaq 100 index, which grew by 14%, while the shares of companies that have started to embrace AI earlier – Microsoft, Amazon, Alphabet, and Meta – have shown double-digit gains. AI-oriented chipmaker NVIDIA soared by 144%, briefly taking over Apple.

Among the so-called Magnificent Seven, only Tesla Inc. has performed worse than Apple this year. The electric car maker has fallen more than 30% in shares this year.