Apple’s Siri AI Was Finally Announced - So Why Is the Stock Tanking?

Apple announced a significantly upgraded Siri AI at WWDC 2026 with enhanced capabilities including multi-step requests, on-device context awareness, and cross-device functionality. Despite the announcement, Apple's stock fell nearly 2% as investors viewed it as confirmation that Apple is still closing the AI gap rather than having definitively closed it. The delayed rollout (beta launch later in 2026, English-only in US initially) and Apple's reliance on Google's Gemini model for powering Siri disappointed some investors, though analysts remain bullish on the long-term platform advantages.