Apple Unveils Gemini-Powered Siri AI at WWDC; Shares Fall 1.9% on Market Concerns
At its 2026 Worldwide Developers Conference, Apple positioned the next generation of Siri as the main gateway to Apple Intelligence and integrated Google Gemini technology. The move reflects Apple’s growing use of external AI models and could affect both iPhone upgrade demand and its ability to catch up in the generative AI market.
Apple unveiled its Siri AI upgrade at WWDC 2026, but the features require an iPhone 17 Pro or newer model and were not initially made available in China or the European Union. The steep hardware requirement and absence from two major markets raised investor concerns about the pace of the global rollout and its potential revenue contribution, sending Apple shares down 1.9%.
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The history behind this eventApple Shares Hit Record High as September Launch and AI Strategy Take Center Stage
As the global artificial intelligence race intensifies, Apple’s distinctive on-device AI strategy won backing from Morgan Stanley and other institutions in mid-July 2026, with analysts bullish on its pricing power as its market capitalization surpassed $4.7 trillion. The expected September product launch is central to this shift, with investors anticipating new phones featuring Apple Intelligence and Google Gemini.
Apple shares reached an all-time high on July 15, 2026, lifting its market value above $4.7 trillion. Beyond deepening its partnership with Google, Apple recently sued OpenAI in a California court, accusing the company of poaching former employees and allegedly stealing key hardware technology and trade secrets, escalating tensions between the two companies.
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