Apple stock falls 3.64% after WWDC 2026 AI announcements fail to convince investors on iPhone upgrade potential

Apple closed Tuesday at $290.55, down 3.64%, as investors reacted to WWDC 2026 announcements of Siri AI and Apple Intelligence features that many viewed as underwhelming. Trading volume reached 69.2 million shares, about 51% above the three-month average of 45.8 million shares.

Apple's Siri upgrades focus on personal context and on-screen awareness, but Morgan Stanley estimates that over 850 million iPhones cannot run basic Apple Intelligence queries, and more than 1.3 billion cannot access advanced Siri features. Apple's EU rollout is delayed due to a dispute over compliance with the Digital Markets Act.

Investors are concerned about how soon Siri AI and Apple Intelligence will generate revenue and drive new iPhone sales. The market will be closely following future product updates and regional rollout plans to assess whether these features become a stronger incentive for customers to upgrade.