Apple (AAPL) is winding down its electric vehicle efforts.

All for generative artificial intelligence – a market that could be worth about $1.3 trillion by 2032, according to Bloomberg Intelligence.

“Rising demand for generative AI products could add about $280 billion of new software revenue, driven by specialized assistants, new infrastructure products, and copilots that accelerate coding. Companies like Amazon WebServices, Microsoft, Google and Nvidia could be the biggest beneficiaries, as enterprises shift more workloads to the public cloud,” they added.

No wonder Apple wants a piece.

So far, as noted by CNBC, the company sees “incredible breakthrough potential for generative AI, which is why we’re currently investing significantly in this area,” Cook said at Apple’s annual shareholder meeting. “We believe it will unlock transformative opportunities for our users when it comes to productivity, problem-solving and more.”

Better, the company expects to have a major AI announcement later this year.

That being said, investors may want to use weakness in shares of Apple as an opportunity.

One way is to buy the Apple stock at current support around $180.72. Another way is to back up the truck on Apple ETFs, such as the Direxion Daily AAPL Bull 1.5x ETF (AAPU). 

With an expense ratio of about 1.06%, the ETF seeks 150% daily leveraged investment results and thus will have an increase of volatility relative to the underlying AAPL performance itself, as noted by Direxion.com.

If Apple gets its AI plans right, it could rally much like Nvidia has.