Apple investors are running out of patience with its AI promises
TL;DR
Apple investors are losing patience with the company’s AI strategy after a disappointing WWDC. The stock trades at a premium that assumes an upgrade cycle that has been repeatedly delayed, and the new Siri launches as a beta built on Google’s technology.
Apple investors are losing patience with the company’s AI strategy. The stock is coming off its worst week since February after the annual Worldwide Developers Conference failed to convince Wall Street that a long-promised upgrade cycle is any closer to arriving.
“There’s a bit of fatigue with Apple and AI,” Tim Chubb, chief investment officer at Girard, a Univest Wealth Division, told Bloomberg. “It’s hard to extend them the same benefit of the doubt we used to since there have been so many delays.”
The WWDC letdown
Apple’s overhauled Siri AI assistant will launch this autumn, but only as a beta. The company ...
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