On Tuesday, Apple's stock price soared 7% to a new high of $207.15 per share, surpassing its previous record. Behind this upward trend is Apple's highly anticipated new strategy in the field of artificial intelligence, which was announced at its annual developer conference on Monday.

At the conference, Apple introduced a series of new AI features, including innovations to its voice assistant Siri, integration with OpenAI's ChatGPT, a range of writing assistance tools, and brand new customizable emojis. These features are positioned by Apple as AI technologies for the general consumer, although users may need to update their iPhones to access these new functionalities.

The rise in stock price on Tuesday once again broke records for Apple, surpassing its previous peak on December 14th last year. For investors who have been closely following how Apple capitalizes on the current AI trend to increase its value, this developer conference undoubtedly brought exciting news.

Analysts at Morgan Stanley believe that Apple's AI capabilities have given the company the "most differentiated consumer digital agent." Furthermore, they believe that these new features will drive consumers to upgrade their iPhones, thus "accelerating device replacement cycles."

Analysts state that although Apple still needs to demonstrate its strength when it launches these AI features for the first time in the fall, they believe that the company has "established the foundation for returning to growth and delivering more sustainable performance."

"At the Worldwide Developers Conference, the key details we were focused on have been reflected, further reinforcing our OW rating, $216 price target, and optimistic valuation of $270," analysts wrote in a report on Tuesday.

Analysts at Bank of America also hold an optimistic view of Apple's announcement, believing that these new features will trigger an "AI-driven iPhone upgrade cycle." They maintain their buy rating on Apple and expect to see years of upgrade cycles, potential margin expansion, and service growth.

Similarly, analysts at Evercore expressed increased confidence in Apple's AI strategy, particularly because they believe it will drive users to update their devices.

"Limiting Apple Intelligence to iPhones sold in the past year reinforces our belief that AI will help initiate a super upgrade cycle for iPhones," analysts stated in a report on Monday.