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Apple Announces Worldwide Developers Conference Dates, In-Person Event

The Apple logo hangs in front of an Apple store on March 21, 2024 in Chicago, Illinois. (Getty Images/AFP)
The Apple logo hangs in front of an Apple store on March 21, 2024 in Chicago, Illinois. (Getty Images/AFP)
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Apple Announces Worldwide Developers Conference Dates, In-Person Event

The Apple logo hangs in front of an Apple store on March 21, 2024 in Chicago, Illinois. (Getty Images/AFP)
The Apple logo hangs in front of an Apple store on March 21, 2024 in Chicago, Illinois. (Getty Images/AFP)

Apple has announced their annual developers conference will take place June 10 through June 14.

The big summer event will be live-streamed, but some select developers have been invited to attend in-person events at Apple's campus in Cupertino, California, on June 10.

The company typically showcases their latest software and product updates — including the iPhone, iPad, Apple Watch, AppleTV and Vision Pro headset — during a keynote address on the first day.

Contributing to a drop in Apple’s stock price this year is concern it lags behind Microsoft and Google in the push to develop products powered by artificial intelligence technology.

While Apple tends to keep its product development close to the vest, CEO Tim Cook signaled at the company’s annual shareholder meeting in February that it has been making big investments in generative AI and plans to disclose more later this year.

The week-long conference will have opportunities for developers to connect with Apple designers and engineers to gain insight into new tools, frameworks and features, according to the company's announcement.

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Salesforce Gains as Software Firm Bets on AI Tools to Power Growth

The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights
The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights
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Salesforce Gains as Software Firm Bets on AI Tools to Power Growth

The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights
The Salesforce logo is pictured on a building in San Francisco, California, US October 12, 2016. REUTERS/Lily Jamali/File Photo Purchase Licensing Rights

Shares of Salesforce gained more than 5% on Thursday as investors cheered the customer relationship management software maker's upbeat quarterly results and its artificial intelligence push to drive growth.

The company has been heavily investing to integrate its AI technologies into existing products, such as its messaging platform Slack, to enhance their capabilities and attract more customers.

"We continue to see Salesforce as an under-appreciated AI winner as its differentiated data and early success in creating/deploying GenAI agents," Reuters quoted Goldman Sachs analyst Kash Rangan as saying.

Wall Street was concerned that tempered cloud spending would affect Salesforce in a tough economy, but the software-as-a-service (SaaS) firm reported better-than-expected revenue, profit and margins in the second quarter.

Salesforce also raised its profit forecast for the year ending January 2025, as margins continue to expand, thanks to its restructuring efforts last year.

The stock is trading at 24.49 times that of Wall Street's profit expectations, compared with 52.11 for SaaS peer ServiceNow and cloud contact center firm Five9's 13.30.

Salesforce is set to add $14 billion to its market capitalization if premarket gains hold. The company's valuation stood at $248 billion as of Wednesday's close.

"We think these results alone are not good enough to drive a sustainable rally from here. For that, we need more catalysts, which could come with the new AI solutions," which are set to be showcased at its event Dreamforce and launched in October, Barclays analyst Raimo Lenschow said.

Some analysts believe that sustained growth in the coming quarters can come through customer support platform Agentforce, which is not yet commercially available.