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Apple (AAPL) CEO Tim Cook redefined the meaning of AI in his keynote address at the company's Worldwide Developers Conference (WWDC), where Apple showcased its newest "Apple Intelligence" features and capabilities. Shares of Apple surged to an all-time high Tuesday.

Synovus Trust Senior Portfolio Manager Dan Morgan explains to Yahoo Finance why Apple's foray into artificial intelligence is still a good thing despite being late to the game.

"Instead of hitting like a grand slam home run like Nvidia (NVDA) with a Blackwell chip or Microsoft (MSFT) buying ChatGPT, they're [Apple] going to do it a little bit at a time with their current product mix, and they outline that roadmap at the meeting," Morgan says. "So I think it's a positive. It gets a new frame of thought surrounding Apple stock in terms of their AI initiatives,"

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This post was written by Luke Carberry Mogan