Apple stock hits record high on new Siri AI beta rollout

Apple's stock surge reflects a turning point in investor perception of the company's artificial intelligence strategy. Gene Munster's characterization of the new Siri AI as feeling "like having a new phone" carries weight because it comes from hands-on testing—a concrete positive signal that Apple has moved beyond promises into demonstrable capability. The 4% outperformance against the Nasdaq's 0.5% gain shows investors are specifically rewarding Apple's progress, not riding a broad market tailwind.

Ming-Chi Kuo's comment that the rally matches his earlier forecast adds credibility to the narrative. He had positioned himself before WWDC 2026 as bullish on Apple's second-half-2026 stock momentum, provided the company's core investment thesis remained sound. Despite a post-conference sell-off and market concerns about product pricing, Apple has now validated his thesis by reaching an intraday all-time high. The comparison Munster drew to Google's "sharp rerating in April 2025" suggests that concrete AI demonstrations can unlock significant multiple expansion—a blueprint investors may now see Apple following.