Apple Shares Slide During WWDC

Why It Matters

The announcements could reshape iPhone differentiation and the competitive balance among AI providers, but execution and rollout timing are key — failure to convert AI features into upgrades would pressure Apple’s revenue growth.

Summary

Apple shares fell about 2% as investors reacted to WWDC announcements that included a new AI-powered Siri integrated across apps, an agent to auto-update compromised passwords, and plans to run more AI models on-device. Analysts said the demos showed meaningful progress but failed to wow markets, with skepticism about whether the features will work smoothly at launch and about Apple's limited initial rollout (U.S.-only). Apple revealed it will use Google’s Gemini behind the scenes for some functionality, but the company retains control of the user interface and could swap providers later. Investors are watching whether these AI features will drive another iPhone upgrade cycle or risk softer sales next year.

Original Description

Gil Luria, managing director and head of technology research at D.A. Davidson, joins BNN Bloomberg to discuss the announcements at Apple's WWDC.

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