Could Apple Be the Biggest Pick-and-Shovel AI Stock?

Is (NASDAQ: AAPL) an "AI stock," or just a tech stock? Until recently, many investors were worried that Apple wasn't doing enough to develop new artificial intelligence (AI) products to compete in the AI race. The company seemed to be struggling to create new AI tools, and in 2025, it announced delays for AI upgrades to its Siri voice assistant.

But instead of getting distracted by AI or investing hundreds of billions of dollars in AI like other major tech companies, Apple has kept plugging away at its core business of selling iPhones and laptops. Based on its most recent quarterly earnings report on April 30, Apple might be benefiting from the AI boom in a surprising way: by becoming an AI pick-and-shovel stock.

Let's look at a few reasons why Apple might turn out to be a come-from-behind winner of the AI race, just by doing what the company does best.

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Source Fool.com