Apple Finally Released A Brand-New Siri. Then Its Share Price Cratered.

By Eric Bleeker Published Jun 8, 8:02PM EDT

Quick Read

AAPL shares swung from a 2% gain to a 5% drop after Apple unveiled "Siri AI" without a firm release date, EU, or China support.
Dan Ives projected 30% upside and $15 billion in annual services revenue from a Siri reboot, a bull case Apple's vague launch immediately undercut.
At a 40 P/E after a 48% one-year run, AAPL faces added pressure as Tim Cook's final WWDC precedes his September retirement.
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Apple finally pulled the curtain back on its long-awaited AI assistant overhaul today, and Wall Street promptly punished the stock. Apple (NASDAQ:AAPL | AAPL Price Prediction) unveiled “Siri AI,” a system-wide assistant with on-device context, screen awareness, and a dedicated Siri app, partly powered by Google’s Gemini foundation models. Shares rose 2.5% in early trading, then fell 4.8% after the announcement, closing at $301.54, down 1.89% on the day.

Why Shares Cratered After Apple’s Siri Announcement

The disappointment is in what Apple didn’t say. Apple did not commit to a firm release date, the launch excludes China pending regulatory approval, and the assistant will not arrive on iPhones and iPads in the European Union.

More importantly, Apple only committed to a Beta release in 2026. That means “Siri AI” likely won’t see widespread release until 2027.

That trio of caveats undercuts the bull case Wedbush’s Dan Ives laid out this morning, when he projected 30% upside and a potential $15 billion in annual services revenue tied to a Siri reboot.

A Lukewarm Response

Bloomberg’s Mark Gurman summed it up: “Apple Inc. investors showed a lukewarm response to the company’s new artificial intelligence platform and an overhauled Siri.” Reddit’s r/stocks went bearish a full day ahead, with the top thread asking about “underappreciated risk of AAPL re-rating significantly downward.”

For investors, the setup is now a show-me story. AAPL still trades at a 40 P/E after a 48.46% one-year run, and Polymarket pegs only a 0.39 probability of an up day tomorrow. The actionable read: watch for a firm Siri AI ship date and EU/China resolution.

Until then, the multiple is doing the heavy lifting, and today proved that’s a fragile place to stand. This is also Tim Cook’s final WWDC before retiring in September, but it looks like the final product that will define his legacy (Apple’s AI strategy) won’t be released until well after his departure.

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About the Author Eric Bleeker, CFA →

Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.