Siri AI is still not as good as other LLMs and equity analysts agree with us
Those who have dealt with Siri constantly referring them to website excerpts, or more recently, handing their queries over to ChatGPT, will be very impressed by Siri AI. There are times when it reverts to old behaviors such as answering a query with links to three different websites. Simply asking the question again will usually snap Siri out of it and generate an answer more in line with the new chatbot Siri.
Not as visually appealing as Gemini on a Pixel, Siri AI can bring you the local weather. | Image by PhoneArena
During May, Apple shares rose 15% with the stock trading as high as $315. Last Friday, the final trading day before WWDC 2026, Apple closed at $307.40. The old saw goes, “Buy on the rumor, sell on the news,” and that is exactly what happened.
Apple’s shares hit a 52-week high early Monday and then collapsed
On Monday, optimism about WWDC 2026 took Apple to a new 52-week high of $317.40. But as Apple spoke about Siri AI at the developers conference, investors dumped the stock as the early morning bullishness melted away. By the time the dust settled and some iPhone users installing the iOS 27 developer beta were able to use Siri AI, the stock had closed at $301.54, down $5.80 or 1.89%.
Today, considerably more damage was done to Apple’s shares as analysts and investors had the time to go through the WWDC presentation overnight. On Tuesday, Apple’s stock plunged $10.99 or 3.64% to $290.55. This is Apple’s lowest closing price since May 7 when it closed at $287.44.
These iPhone units can run Siri AI on the iOS 27 beta
At the same time, more than 1.3 billion iPhone units will not be able to use advanced Siri features. The iPhone models that will run Siri AI on the iOS 27 beta include:
Those three models are also the only iPhones that can handle advanced dictation including the automatic handling of punctuation, formatting, and capitalization as you speak.
Analysts wonder how Apple will profit from upgrading Siri
Returning to analysts’ comments on Siri’s update, some felt that the new Siri was not revolutionary enough to keep the stock at its 52-week high. Others wondered how Apple would monetize Siri AI.
KeyBanc analyst Brandon Nispel told clients that Apple had released “a slightly better standalone Siri, which is still worse than other LLMs (Large Language Models).”
