Apple shares AAPL rose 1.62% in trading on Monday ahead of the company’s Worldwide Developers Conference (WWDC).
An upgraded Siri digital assistant and a broader push into artificial intelligence are expected to headline the event.
The annual developer conference, held at Apple’s Cupertino, California, headquarters, comes at a pivotal moment for the technology giant as it seeks to reassure investors that its AI strategy can compete with rivals that have invested heavily in the space.
Revamped Siri expected to headline WWDC
According to reports, Apple is preparing to unveil a significantly upgraded Siri assistant alongside a range of AI-powered software enhancements.
Bloomberg reported that the company is expected to introduce refreshed operating systems for the iPhone, iPad, Mac, Apple Watch, Apple TV, and Vision Pro headset.
Investors will also be looking for clues about future hardware products, including a potential foldable iPhone, Apple Glasses and a MacBook Ultra.
UBS analyst David Vogt expects Apple to showcase an AI-powered Siri capable of understanding personal data and analyzing on-screen content.
He also expects the company to launch a standalone Siri application that can function as an interface for text, voice and attachments.
Apple’s iOS 27 is also expected to include several AI-driven features, including natural language Shortcuts that allow users to create automations using plain English commands, a writing assistant that offers grammar and style suggestions, and a redesigned notification system.
Investors focus on Apple’s AI strategy
This year’s WWDC is widely viewed as Apple’s second major attempt to outline its artificial intelligence ambitions after introducing Apple Intelligence at last year’s conference.
The earlier rollout failed to produce the anticipated iPhone upgrade cycle, while the launch of an AI-powered Siri assistant was delayed until later this year.
“The question for WWDC26 isn’t ‘will Apple announce a better Siri?’ It almost certainly will,” MoffettNathanson wrote in a new note, according to a CNBC report. “The question is ‘does a better Siri justify a multiple that already assumes it works?’”
John Belton, portfolio manager at Gabelli Funds, also highlighted the importance of the event.
“I think this would be a great opportunity to just show that personalized Siri is the killer consumer agent,” Belton said. “Maybe personalized Siri is something that can really bring a lot of this new technology to the billions of iPhone users around the world.”
Belton added: “The most important message they’re gonna have to tell is, ‘We’re not behind in AI. We have a game plan. We have a strategy.’ And I think if that vision is shared by Tim Cook, then he’ll be leaving at a time when he has sort of set the company up for the next era. And from that standpoint, I think it’s a pretty logical time to be transitioning out.”
Analysts remain optimistic despite high expectations
Analysts have generally maintained a positive outlook on Apple ahead of the conference, citing the company’s ecosystem advantages and measured approach to AI investment.
Unlike several of its large-cap technology peers, Apple has kept capital expenditures relatively stable while relying on partnerships to support its AI initiatives.
The company previously announced plans to integrate OpenAI’s ChatGPT into Apple Intelligence and said earlier this year that its next-generation Apple Foundation Models would be based on Google’s Gemini models and cloud technology.
“Apple has not been a visible participant in the compute buildout race, and frontier model-building is not where the company has historically differentiated vs. other Mag Seven peers or frontier labs. This has fed the perception that Apple is an AI laggard in a race that is already well underway,” BofA Securities analyst Wamsi Mohan wrote.
“But, Mohan said, Apple doesn’t have to own the best frontier model if it owns the ‘trusted interface.'”
Bank of America recently reaffirmed its Buy rating on Apple with a $380 price target, while Wedbush maintained its Buy rating and a $400 target, arguing that a revamped Siri could become the centerpiece of Apple’s next phase of AI-driven services growth.
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