Apple kicks off WWDC 2026

Summary

CNBC's MacKenzie Sigalos reports from Cupertino ahead of Apple's WWDC 2026, focusing on Apple's third attempt at getting AI right with a rebuilt Siri powered by Google's Gemini. She highlights market expectations for the stock, which has rallied on the AI partnership but may fall after the event due to high valuations. The report also touches on the developer ecosystem and potential hardware roadmap including smart glasses.

• Apple is expected to showcase a rebuilt, agentic Siri powered by Google Gemini at WWDC 2026.
• The stock is up 16% year-to-date, trading at 32x forward earnings on 10% growth.
• Wall Street expects the stock to decline after the event as promises are already priced in.
• Developers are key to Apple's AI strategy, needing to build apps that integrate with Siri.
• Apple's incoming CEO John Ternus will present the AI roadmap to developers.
• Apple may also reveal new hardware like smart glasses, waiting for AI to catch up.
• The partnership with Google (Gemini) could also benefit Alphabet stock.
• Apple is competing with OpenAI, Microsoft, Google, and Anthropic for developer attention.