As WWDC 2026 approaches, Apple Inc.'s AI strategy is fully unveiled, and the market is waiting for the signal to restart the replacement cycle.

In the past two years, investors of Apple Inc. (AAPL.US) have been eagerly anticipating that this tech giant will spark a major wave in the field of Artificial Intelligence (AI). And their wait may finally come to an end at the upcoming 2026 Worldwide Developers Conference (WWDC). This conference is undoubtedly a "naming battle" for Apple Inc. At 1:00 a.m. Beijing time on June 9, the 2026 WWDC of Apple Inc. will kick off at its Cupertino headquarters. This conference is not only the most important annual software showcase for Apple Inc., but also the last public hosting by CEO Tim Cook before stepping down. Faced with the embarrassing situation of repeated delays in the AI field over the past two years, Apple Inc. urgently needs a "full-force" release to prove to Wall Street and consumers that it can still stand at the pinnacle of generative AI waves. As early as 2024, Apple Inc. first announced its AI preview feature, which has since been delayed multiple times. However, unlike many major competitors, despite the lack of mature AI products, Apple Inc.'s stock price has remained strong over the past two years. This "atypical" status has supported it in the market sell-off driven by AI, while also not being excluded from the market's uptrend. Now, investors and analysts hope to be assured that these AI features will finally be launched as planned, and help drive sales growth for their flagship product, the iPhone, in the future. The market generally expects that Apple Inc. will showcase the highly anticipated major upgrade version of its digital assistant, Siri, as well as other AI features. This could be an important catalyst for further driving up Apple Inc.'s stock price - although the market's focus on AI continues to heat up, Apple Inc. has quietly become the second-best performing company among this year's "Big Seven" in the US stock market. Some analysts believe that the three key signals worth paying attention to at this year's Apple Inc. developers conference include: whether it can restart the upgrade cycle - if AI capabilities are again bundled with new hardware this year, revenue forecasts for the next two to three years may be revised upwards; whether AI can form new profit models - if Apple Intelligence and AI Agents can form new sources of income in the future, the market's valuation framework for Apple Inc. may also switch once again; can Apple Inc. still establish new moats - can Apple Inc. prove that it still has the ability to define platform rules in the AI era. Siri's "brain change": Joining forces with Alphabet Inc. Class C to transform into an all-powerful AI agent Insiders revealed that the new version of Siri, codenamed "Campo," is positioned to evolve from a simple voice control tool into an all-day AI companion across iOS, iPadOS, and macOS. It will abandon the obsession with self-developed models at the core and instead rely on Alphabet Inc. Class C's Gemini model. In addition, it is reported that Apple Inc. is testing opening system permissions for iOS 27 to third-party AI Agents via the App Store, which might allow users to choose different models like Gemini, GPT, Claude, etc., for Siri. Apple Inc. will also introduce a standalone exclusive app for Siri for the first time. This app supports syncing chat logs across iOS, iPadOS, and macOS, with an interface similar to SMS conversations, allowing users to review, continue unfinished conversations, send photos or request analysis of files. The app will include Apple Inc.'s self-developed web search engine, which can generate summary, key points, and rich image cards for most queries, directly competing with Perplexity. Moreover, there will be a global "Ask Siri" option available, where users can send any selected text for analysis by Siri, and a "Co-write with Siri" button in the keyboard area to assist in writing. However, according to internal documents, the new version of Siri will still be marked as "beta" or "preview," and might initially adopt a waiting list system, indicating that its completeness still needs to be tested in the market. Comprehensive system features blossom: Ensuring stability, embedding AI deeply Unlike last year's radical change with the introduction of the "liquid glass" design language, this year's iOS 27 series updates are more practical, following a "quality optimization" route similar to Mac OS X Snow Leopard in 2009 or iOS 12. The main focus will be on performance optimization, extending battery life, and eliminating system bugs. In addition, Apple Inc. will embed AI capabilities like capillaries into various native features: Image and visual intelligence: Previously relying on the camera control key, the "visual intelligence" will be more deeply integrated into the camera application, allowing users to simply take a picture of a nutrition label or business card to automatically capture information for dietary records or adding contacts. Photo editing will include an AI trio: the "expand" function can use AI to generate scenes beyond the picture for re-composition, the "reconstruct" function mainly adjusts the perspective of spatial videos, while "enhance" can instantly improve photo quality. The much-criticized "remove" tool will also see significant improvements. Efficiency and personalization: Safari browser will introduce intelligent tab grouping for "organizing tabs"; Genmoji will add suggestion options, generating personalized emojis based on user photos and typing habits; the Image Playground app interface will undergo a major change and include custom editing options for "describe changes"; users can even directly generate main screen wallpapers using AI. For advanced users, the Shortcuts app will support the generation of automation processes directly using natural language. Core application experience upgrade: The Wallet app will support users in creating digital tickets and introduce a "split bill" feature, where users can take a picture of a paper receipt to send separate bills to friends. The Weather app will add a more intuitive "weather conditions" panel, allowing users to view detailed weather information without switching screens. In addition, macOS will fix annoying shadow and opacity display issues from the previous liquid glass interface, while iOS notifications banners will slide in from the left side of the screen to adapt to the new interactive logic. It is worth noting that the major upgrade of AI in health originally planned a comprehensive "health coach" function, such as monitoring exercise postures through the camera and improving blood sugar tracking. However, due to project cutbacks, it is highly unlikely to be unveiled at WWDC, and may be postponed for future releases. The system's underlying architecture has quietly added default support for third-party projection protocols (such as Google Cast), indicating a more open attitude. Apple Inc. displaying AI capabilities may become a catalyst for stock price increase Many analysts optimistically believe that if Apple Inc. demonstrates strong AI capabilities at WWDC, it will help continue driving up the stock price. In the analysts' view, if Apple Inc.'s AI products can prove themselves competitive with their tech peers - an answer that WWDC is expected to provide - then the stock still has a good basis for growth by the end of the year. Kyle Levins, Information Technology analyst at Harding Loevner, said: "I am more confident that Apple Inc. can deliver on its AI promises, but I still need to see actual execution before I can confidently buy into its long-term and sustainable growth prospects." He added: "AI has the potential to truly accelerate the iPhone upgrade cycle. If we feel that this round of upgrade cycle will become larger, longer, and more sustainable due to AI, then I believe there is still room for Apple Inc.'s stock price to increase." Morgan Stanley analyst Erik Woodring said that a "mature AI platform and a clear Agent strategy vision" will drive the growth of iPhone upgrade demand and enhance the monetization capability of the services business, potentially pushing Apple Inc.'s stock price to rise to $440, over 40% higher than last Friday's closing price. Erik Woodring stated that this conference was a "key catalyst for reshaping Apple Inc. as an 'AI winner'." He added, "For other companies, being seen as an 'AI winner' in the market will often lead to a noticeable turning point in fundamentals, valuation, or both." JPMorgan analyst Samik Chatterjee stated in a report to clients last week that the successful launch of AI features, along with expectations for significant design updates to the product line later this year, may continue Apple Inc.'s "historically strong performance until mid-September." Wedbush analyst Dan Ives bluntly stated that he expects this event to showcase "fireworks." He believes that after years of empty promises, this is the first time Apple Inc. will truly "throw its hat into the AI arena." He emphasized that with the moat established by 1.5 billion iPhones and 2.5 billion active iOS devices, Apple Inc. can occupy the high-speed intersection of AI distribution, acting as a "traffic toll" collector and benefiting continuously from its ecosystem. Dan Ives estimated that about 20% of global consumers will eventually interact with and use AI through Apple Inc. devices, confirming Apple Inc.'s potential to hold an important position in the wave of widespread AI adoption. However, some analysts remain skeptical. UBS Group AG analyst David Vogt believes that these AI features "may be interesting use cases for consumers, but are unlikely to significantly boost iPhone demand." If Apple Inc.'s showcasing of AI capabilities at this event disappoints, given the current valuation levels, its stock price may face risks. Currently, Apple Inc.'s stock is trading at around 33 times future earnings, significantly higher than its long-term average level and not far from its peak of 35.3 times in 2020 - the highest level since 2007. Kyle Levins commented, "The only thing that makes me hesitate is the valuation issue. Growth is good, but it is not yet enough to support a valuation multiple close to the highest level in nearly 20 years." Apple Inc.'s valuation above the long-term average level Market expectations are that Apple Inc.'s revenue growth rate for this year will be close to 15%, significantly higher than the 6.4% growth rate for the 2025 fiscal year, but analysts anticipate this growth rate to slow down to 8.6% in the 2027 fiscal year, and further decline over the next two years. However, so far, investors are willing to overlook these fluctuating growth trends and focus more on Apple Inc.'s defensive characteristics, including its strong cash flow generation capabilities, and the company's commitment to investing billions of dollars in building AI infrastructure. This makes Apple Inc. a "safe haven" in the tech sector amidst a wider adjustment that may occur. Wayne Kaufman, Chief Market Analyst at Phoenix Financial Services, said: "I don't expect Apple Inc.'s stock price to suddenly skyrocket, but if there is a broader adjustment in the tech sector, it will be a relatively safe haven." "At the same time, if Apple Inc. can launch products that truly stimulate the upgrade cycle, then there is still some room for the stock price to rise."