Apple shares swung nearly 5% from their intraday high, erasing about $230 billion in market value, after the company’s long-awaited Siri AI overhaul drew a muted reaction from investors.
Key Takeaways:
Apple stock reversed from a ~$317 intraday high to close at $301.54 on June 8, a roughly 4.95% swing. The drop wiped about $230 billion off Apple’s peak valuation as its Siri AI reveal underwhelmed Wall Street. Apple unveiled a Google-powered AI Siri and rebuilt Apple Intelligence platform at WWDC 2026.Apple used its Worldwide Developers Conference (WWDC) on June 8 to unveil its biggest artificial intelligence (AI) push yet, i.e. a rebuilt, AI-powered Siri and an expanded Apple Intelligence platform spanning its devices. Investors were not impressed because after climbing as high as about $317 a share during the event, the stock reversed and closed at $301.54, down 1.89% on the day, but nearly 4.95% below its intraday peak.
For all the engineering on display, the market’s verdict was that Apple is playing catch-up. The cautious response stood in sharp contrast to the enthusiasm surrounding pure-play AI firms, even revealing how high the bar has become for incumbents trying to prove they can compete in a field now defined by OpenAI, Anthropic and Google.
Why a Big-Tech Selloff Matters to CryptoApple’s near-term future now hinges on execution as the company will need to ship its new Siri features on schedule as well as prove that its Google-powered system works as advertised, particularly on the privacy front (a key differentiator that Apple has staked its brand on for well over a decade).
