Cramer explains why Apple's conference made him more bullish on the stock

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  • CNBC’s Jim Cramer said he was impressed by all of the new programs, saying the Apple technology is a huge development in AI use beyond enterprise.
  • The iPhone maker on Monday unveiled its highly-anticipated foray into artificial intelligence, which it’s calling Apple Intelligence.

CNBC’s Jim Cramer reviewed Apple‘s Worldwide Developers Conference on Monday, explaining why the tech giant’s announcements made him more excited about the stock, which has long been a favorite of his.

“You can imagine yourself, see yourself, learn about yourself, all at the same time, and no one can steal your info,” he said. “To me, That’s a good deal — one that enhances your life and will, eventually, enhance the stock.”

Apple unveiled its highly-anticipated foray into artificial intelligence, which it’s calling Apple Intelligence. The programming will be integrated into the new operating systems for iPhone, iPad and Mac, the company said.

The new capabilities make Apple services more advanced and personalized. For example, Apple Intelligence can generate photos based on a user’s photo library, perform new tasks and use context to determine which notifications are most important. Apple’s Senior Vice President of Software Engineering Craig Federighi described how Apple Intelligence can pull up files sent by a contact during a certain period of time or tell a user whether a shifted meeting will interfere with a different commitment. The company’s Siri program will now be able to tap into OpenAI’s ChatGPT.

Cramer was impressed by all of these programs, saying the new technology is a huge development in AI use beyond enterprise. He was also heartened by the way management stressed that security and privacy were top priorities for the company as it makes use of huge amounts of personal data.

“For me, this Apple conference marked the beginning of generative AI for personal use, not corporate use,” Cramer said. “You have enough data in your iPhone that it can make some great predictions and give you great insights about yourself if you let Apple put it to work — it can make your life easier, help you be more creative, make it more fun.”

Apple did not immediately respond to a request for comment.

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Apple.

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