Apple Shares Fall 3% on Tuesday After AI Reveal at WWDC

According to CNBC, Apple shares fell 3% on Tuesday, one day after the company announced new artificial intelligence software at its Worldwide Developers Conference, marking the stock's worst day since February. The company revealed Apple Intelligence, new frameworks enabling developers to integrate AI into iPhones and Macs, and an updated Siri based on large language models, developed with assistance from Google and Nvidia.

Analysts praised the AI improvements but noted the lack of surprises and concrete timelines. Baird analyst William Power cited the delayed Siri AI release—coming later this year with no full launch date confirmed—as contributing to the intraday sell-off. JPMorgan analyst Samik Chatterjee highlighted regulatory delays for China and Europe, plus English-only initial availability. UBS analyst David Vogt stated he does not expect the new features to drive iPhone demand.