After a strong rally in the spring, Apple shares have started to lose momentum. Investors are taking profits ahead of WWDC 2026, concerned that the company may once again fail to deliver sufficiently convincing results in artificial intelligence.
Despite continued optimism from analysts, the market is becoming more demanding: current valuations already reflect expectations of a major AI breakthrough, meaning even a strong presentation may not be enough to trigger a new rally.
The key question: can Apple finally fix Siri
The long-awaited transformation of Siri remains at the center of attention. According to industry sources, Apple is preparing the largest update to its voice assistant in history, including features comparable to modern AI assistants. However, investors are wary due to a series of previous delays and postponements. The market wants to see not just a vision of a future product, but concrete launch timelines and ready-to-use features capable of competing with ChatGPT, Gemini, and other industry leaders.
Delay risks continue to pressure the stock
Additional negative sentiment has been driven by reports of delays in several AI projects, including a personal AI health coach for Apple’s ecosystem. These developments have heightened concerns that the company is still facing challenges in scaling its AI solutions. Against the backdrop of aggressive AI expansion by Microsoft, Google, and Nvidia, the market is beginning to question whether Apple can maintain its leadership in the next technological cycle.
The coming days may define AAPL’s medium-term direction
WWDC 2026 is shaping up to be the key catalyst for Apple shares in the second half of the year. If the company presents a compelling roadmap for Apple Intelligence and the updated Siri, the current pullback could prove to be just a correction before another leg higher. However, any signs of further delays or underwhelming announcements could intensify selling pressure, as the market is no longer willing to pay a premium based solely on future AI promises. In the short term, sentiment around AAPL remains cautiously bearish despite the company’s strong long-term fundamentals.
Near-term outlook
After failing to break above the $314 resistance level, AAPL has come under selling pressure and declined toward support at $306. A break below this level could lead to further downside toward $300, where buyers may step in more actively. As previously noted in Apple holds near record highs as market awaits WWDC, the pullback in AAPL presents an opportunity to buy at a more attractive price.
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