Investing.com - Apple (NASDAQ:AAPL) kicked off its annual developers conference with a keynote address that included a range of updates to its artificial intelligence offerings.
But shares in the iPhone manufacturer slid on Monday after the developments failed to excite investors keen for the California-based group to roll out big advancements in its harnessing of the nascent technology.
Apple’s presentations at its Worldwide Developers Conference featured improvements like live translations for phone calls. Yet the firm kept many of its AI promises to consumers muted.
A perceived lack of progress on AI compared to other tech industry titans has weighed on sentiment around Apple, sending shares in the company down by more than 17% so far this year.
Here’s how some Wall Street analysts are reacting to the announcments:
Wedbush: "Overall, WWDC laid out the vision for developers but was void of any major Apple Intelligence progress as Cupertino is playing it safe and close to the vest after the missteps last year."
Evercore ISI: "The keynote was largely consistent with our preview that this would be a ’transition year’ with relatively minor announcements."
Barclays: "We were not expecting much from the annual WWDC keynote, but were still slightly disappointed at the content and features announced today. We view changes to all device Operating Systems and Apple Intelligence as incremental, and not enough to drive any upgrade cycles."
BofA: "While the overall event was not as exciting as prior years, Apple presented a substantive user interface refresh and developer-focused AI strategy."
Morgan Stanley: "WWDC 2025 was more akin to ’dub dub’ of old, featuring a focus on OS design overhauls and product UI unification, alongside a sprinkling of AI upgrades. Sentiment is unlikely to shift until more tangible AI progress is evident, though Apple clearly still has the ingredients to make it an AI winner."
Raymond James: "The company is already seeing evidence as the iPhone 16 is selling better in regions where Apple Intelligence is supported. We are optimistic that the momentum will sustain as Apple rolls out new AI features and expect an acceleration with the upcoming Siri update."