Apple Stock Falls 4% Following AI Reveal at WWDC Event

Key Facts

After years of anticipation regarding the company's entry into generative AI, Apple's stock faced notable selling pressure following the reveal of its new strategy. Shares fell 4.4% on Tuesday, marking the stock's worst daily performance since February. This decline followed the unveiling of new AI initiatives at the annual Worldwide Developers Conference (WWDC), including a major overhaul of the Siri voice assistant, as investors processed the details despite pockets of analyst optimism.

Despite the immediate price drop, analysts at Morgan Stanley raised their price target to $360, suggesting that "Apple Intelligence" features could trigger a massive iPhone upgrade cycle (per Seeking Alpha reports). In contrast, peer tech stocks showed mixed performance; Microsoft closed at $290.41 and Alphabet at $360.96, while Meta stood at $290.41 per market data on June 12, 2026. These movements reflect a cautious stance on the pace of AI rollout in consumer devices compared to the rapid growth seen in cloud infrastructure.

Traders should watch current support levels, as AAPL closed at $290.73 on June 12, 2026, after hitting a session low of $289.62. According to the economic calendar, there are no major catalysts scheduled for Apple in the next seven days, leaving the focus on market absorption of the WWDC announcements. Investors will be looking for specific launch dates for the new Siri features this fall as the next potential catalyst for the stock.