On Wednesday, Apple Inc. shares surged to a record high after investors welcomed the company’s new Siri AI beta and progress on Apple Intelligence, with analysts Gene Munster and Ming-Chi Kuo saying the rally reflects growing confidence in Apple’s AI strategy. Deepwater Asset Management managing partner Gene Munster highlighted Apple’s market outperformance after the stock climbed 4.01% to close at $327.50, while the Nasdaq gained just 0.5%. “The new Siri AI in iOS 27 public beta released yesterday gives investors concrete evidence that Apple finally has the AI chops it’s long been missing,” Munster wrote on X, adding that the moment resembled the setup that “fueled Google’s sharp rerating in April 2025.” After testing the beta for a day, Munster said, “I can attest it’s like having a new phone.” Separately, Apple analyst Ming-Chi Kuo said the stock’s climb was in line with his earlier forecast, noting that before WWDC 2026 he had predicted Apple would enjoy a positive share-price trend in the second half of 2026 as long as its “core bull narrative” remained intact. Apple shares touched a new 52-week high of $328.73 during Wednesday’s session. The rally also came after China’s cyberspace regulator approved Apple Intelligence for the Chinese market, allowing Apple to roll out its on-device generative AI features using models