The market is finally coming back around to Apple (AAPL 1.08%) as it has reported incredible iPhone sales. It's all about its interconnected platform that breeds loyalty, and the way it makes that happen is by offering great hardware with an emphasis on the user experience.
So while it still lags in artificial intelligence (AI), it's getting a pass — for now.
One area that's been in need of a makeover is its celebrated voice assistant, Siri. Although it was groundbreaking when it was launched in 2011, Amazon has challenged it with its own version, Alexa, and today's large language models and AI agents, including Alphabet's Gemini and OpenAI's ChatGPT, are using AI to assist users in many ways.
Apple has said it has a new Siri in the works, and it's partnering with Alphabet to make that happen. It has delayed the launch several times, citing user privacy, which is a major element of Apple's model. But on June 8, it might finally be unveiled.
Apple team members in a store. Image source: Apple.
Apple's annual Worldwide Developers Conference (WWDC) starts June 8. WWDC has been around since 1983, and it's the company's main media event, where it announces new technology. Last year, it announced the iOS26, a few other iOS updates, and the new Liquid Glass design language. You can apply for tickets, which are randomly assigned, or tune in to watch it live.
At this year's event, the company is likely to preview iOS 27, as well as new AI features. But the major reveal might be the highly anticipated new Siri. According to Bloomberg, the new technology will be launched at WWDC, and it features a major overhaul. The new Siri will reporteldy be "always on," and it will be able to locate personal data across a user's Apple devices. It will also have agentic properties and be able to accomplish tasks, and historical conversations will be accessible in a dedicated Siri app. Siri will be embedded in the camera for AI imaging features.
Last year, Apple stock was sluggish after the WWDC, since the market was underwhelmed with the company's AI updates. It has since seen the error of its ways, and Apple stock is up 53% over the past year, about double the S&P 500.
The pressure is on for better updates this year, and if Apple comes through as expected, the stock could jump on the news. However, the market might be more forgiving if it doesn't meet expectations, given its recent strong performance. In any case, when improvements are launched, I expect higher user loyalty and sales long term.
Jennifer Saibil has positions in Apple. The Motley Fool has positions in and recommends Alphabet, Amazon, and Apple. The Motley Fool has a disclosure policy.
*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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Apple usually announces major breakthroughs at its annual Worldwide Developers Conference.
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