Apple's new CEO has a cash pile handy. But the global AI race looks set to test its innovative core

▤ Summary

Apple’s new CEO inherits a company with massive cash reserves, strong margins, and a huge installed device base. The article argues that Apple still lags rivals in generative and agentic AI, even as it leans on Google’s Gemini and expands its own Apple Intelligence efforts. It highlights Apple’s acquisitions of AI startups and its growing investment in custom chips, edge models, and developer tools. The piece also notes pressure from antitrust scrutiny, privacy constraints, and the need to prove that AI can strengthen future products without eroding capital discipline.

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