Apple shares fall after WWDC announcement3.61%
Apple's6month 9day WWDC presentation of Siri AI and Apple Intelligence updates was followed by a 3.61% decline in its share price. It was reported that more than 850,000,000iPhones cannot run the basic Apple Intelligence.
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Apple shares6month 9day immediately after the WWDC announcement fell 3.61%. The company unveiled updates to Siri AI and Apple Intelligence. Investors judged the announcements to have fallen short of expectations.
Investors' key concern is that the timing for monetizing the updates is unclear. The company did not provide a specific schedule for which features would become paid and when. This raised uncertainty over when revenue conversion would occur.
Hardware limitations also drew attention. It was reported that more than 850,000,000iPhones cannot run the basic Apple Intelligence features. It was confirmed that the use of the latest features is restricted on older devices.
Following the news, technology stocks broadly declined in tandem. On the same day, the Nasdaq fell 0.97%. Large-cap technology stocks were relatively weak.
Immediately after the announcement, market participants watched demand for upgrades and the company’s plans to monetize its services. In the announcement, the company did not provide specific pricing or a commercialization timeline. The relevant indicators are expected to be confirmed in future earnings announcements.
Sources: The Motley Fool
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