One day after Apple caught up with its tech pack peers by launching its long-awaited generative artificial intelligence strategy, Apple boss Tim Cook finally got the applause he was hoping for.

Apple’s stock surged 7.3 per cent on Tuesday, after losing nearly 2 per cent on Monday, as investors were reassured that the tech giant had an AI strategy after all, and that – at the very least – it would spur a super cycle of iPhone upgrades. The share price rise boosted Apple’s market valuation by $US215 billion ($325 billion), its largest one-day gain on record.