Tim Cook is about to take his final stage appearance at WWDC as Apple's CEO. Ahead of the event, the company's stock price is nearing a record high. However, Apple still faces questions about its AI strategy.
Analysts predict Apple will launch a new version of Siri that functions like a chatbot. Based on rumors, this assistant will be able to understand personal context, recognize screen information, perform more complex tasks, and integrate more deeply with external models, including Google's Gemini.
WWDC is not only important for investors and developers, it also witnessed a historic moment for Tim Cook. Before handing over his position to John Ternus, this was his last chance to prove that Apple's AI strategy was on the right track.
A difficult problem for Apple.
Dan Newman, CEO of The Futurum Group, said Apple Intelligence was "one of the big lows" of Tim Cook's tenure.
Speaking to CNBC , Newman stated that WWDC is an opportunity for Apple to demonstrate its ability to leverage its billions of users. The company also needs to convince developers that Siri is the right AI platform.
According to research firm MoffettNathanson , Apple's stock has met expectations, but its AI performance has been the opposite. Compared to a year ago, the company's market capitalization has increased by $1.6 trillion .
Apple is doing well with its most successful iPhone cycle in years, coupled with growth from its services segment. However, Siri remains a big question mark. This is happening despite rumors that the company will introduce a smarter version of the assistant.
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The new version of Siri first appeared at WWDC 2024. Photo: Apple . |
According to MoffettNathanson , Siri needs to become more trustworthy to positively impact Apple stock. This includes transitioning to an assistant that can run multi-step tasks, rather than just receiving simple commands.
This factor also depends on whether the third-party developer integrates App Intents. This is a system developed by Apple that allows Siri to run tasks directly within the application.
"Siri will only become useful if enough developers support it. However, before investing effort, they need to wait and see if users actually use Siri," analysts noted.
Apple has reportedly contacted several partners to integrate App Intents, including YouTube, Facebook, and Threads. However, MoffettNathanson notes that some developers may be hesitant to give the company more control, following the controversy surrounding App Store platform fees.
This year, WWDC wasn't just about showcasing technology. Instead, Apple had to convince customers that Siri is now truly useful and prove it's a worthwhile investment.
"Cook has completely missed the AI wave in some aspects. However, with an efficient spending strategy, not investing too much capital while still mastering the device platform, Apple still has a chance to be a little slower to succeed in the future," Newman emphasized.
An advantage for Apple
While Microsoft, Alphabet, Amazon, and Meta spend tens of billions of dollars annually on AI infrastructure, Apple has largely stayed out of the race. The company focuses on on-device processing capabilities, privacy, and less reliance on models.
According to CNBC , this gives Apple an advantage. The company can close the AI gap through partnerships, instead of bearing the cost burden of building data centers.
According to The Information , the new version of Siri will be widely released in September, running in part on Google Cloud servers with Nvidia chips.
If the rumors are accurate, this would be a major shift, given Apple's tradition of owning its core technology. However, investors might accept the trade-off if it helps the company launch more effective AI products.
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Website showcasing Apple Intelligence. Photo: Bloomberg . |
Newman said this could benefit Google. Apple's adoption of the technology and infrastructure for high-volume traffic would demonstrate Gemini's viability, based on a search partnership that benefits both companies.
Conversely, some experts argue that Apple is investing too little in new technology. Stephanie Link, an investment strategist at Hightower, notes that Apple has always been cautious about cash. The company typically prioritizes share buybacks over mergers and acquisitions or large investments.
Link argues that this determination has helped Apple improve its profit margins. However, she also "feels disappointed" that the company hasn't aggressively embraced AI, a wave that competitors see as a "once-in-a-lifetime" opportunity.
Sharing this view, Dan Niles, founder of Niles Investment Management, believes Apple is too slow in the AI race. While acknowledging Apple's ability to optimize its supply chain and political connections, he notes that Vision Pro, the company's most ambitious product in recent years, has failed.
However, Niles is optimistic that Apple is increasing its research and development (R&D) budget. Even so, the later stages remain crucial.
Tim Cook's legacy
Investment experts are not very enthusiastic about WWDC 2026, as the event is unlikely to boost Apple stock. Ms. Link believes the current valuation is too high compared to the projected growth rate of around 10%.
Similarly, UBS does not expect WWDC 2026 to have a positive impact on Apple stock, unless something unexpected happens.
Goldman Sachs is more optimistic, predicting that the new version of Siri could boost demand for iPhone upgrades and support the services sector if developers build apps on the platform.
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John Ternus will become Apple's new CEO. Photo: Bloomberg . |
The bigger challenge for Apple will come in September, when the company unveils the iPhone 18 and widely releases the new Siri.
Gene Munster, managing partner at Deepwater Asset Management, suggests that Apple's stock may experience a slight dip around the time of the conference. However, this wouldn't change the long-term outlook if the company demonstrates a clear understanding of the direction AI is taking.
Munster argues that Apple's standards are "surprisingly high," even though the company hasn't yet achieved true success in the field.
According to him, Apple needs to at least create a chatbot experience as good as Gemini or ChatGPT. However, the more difficult challenge is to tightly integrate the software with the hardware, making the AI useful and personalized.
According to CNBC , this puts Cook in a difficult position. The new version of Siri will lead to the story of the iPhone 18, as well as Apple's long-term AI strategy after his retirement.
Source: https://znews.vn/di-san-cua-tim-cook-tai-wwdc-2026-post1657674.html
