Apple shares touch new record levels ahead of WWDC as investor skepticism about its AI strategy begins to fade.

Apple stock surged more than 20% since the start of the second quarter and touched a new intraday record above $311, with the rally accelerating ahead of the company's Worldwide Developers Conference scheduled for June 8-12.

Analysts now believe Apple's slower and more deliberate AI rollout, focused on integrating AI into its existing ecosystem rather than releasing standalone products, may position the company well for the next phase of adoption.

The stock's recent strength has been fueled by renewed enthusiasm across the broader technology sector and bullish analyst calls, as investor skepticism about whether Apple had fallen behind competitors like Microsoft, Amazon, Alphabet, and OpenAI in generative AI innovation appears to be fading.