Apple's Planned Upgrades to Siri Runs Into Snags

Speakers

Mark Gurman — Chief Correspondent, Bloomberg News

Ed Ludlow — Anchor, Bloomberg Tech

Caroline Hyde — Anchor, Bloomberg Tech

Apple's major Siri AI overhaul, initially introduced in June 2024, faces significant delays. Originally slated for March (iOS 26.4), key features are now pushed to May/June (iOS 26.5) and September (iOS 27).
Despite the software setbacks, Apple's hardware business remains resilient, generating $85 billion in sales, suggesting the "AI Supercycle" is not the sole driver of current revenue.
Apple is actively relying on the "Google Gemini team" to improve its underlying models, highlighting a critical dependency on a major competitor to execute its AI strategy.
The competitive gap is widening; by the time Apple ships these features in late 2026 (implied by timeline), competitors like OpenAI, Anthropic, and Google will likely be "well ahead" of their current capabilities.

Ticker	Direction	Speaker	Thesis	Time
AAPL	WATCH	Mark Gurman Chief Correspondent, Bloomberg News	"Some of the features including the personal context features... are likely not to launch until September as part of iOS 27." The "AI Supercycle" narrative is effectively paused until late in the year. The product is running nearly two years behind its initial introduction (June 2024). However, Gurman notes, "The setback for Apple here is not necessarily in phone sales... people are still buying iPhones," evidenced by $85B in revenue. The stock lacks an immediate AI catalyst due to the delay, but strong legacy hardware demand prevents a bearish "Short" thesis. It is a "Watch" until the September release approaches. If competitors (OpenAI/Google) release hardware or agents that make Siri obsolete before September, the "sticky ecosystem" argument weakens.	—
GOOG /GOOGL	LONG	Mark Gurman Chief Correspondent, Bloomberg News	"Their models are being improved by the Google Gemini team as part of that collaboration." Apple—historically self-reliant—is forced to lean on Google's infrastructure to ship its core AI product. This validates Google's Gemini models as best-in-class and indispensable, even to its largest mobile OS rival. Bullish for Google's technical leadership and potential licensing revenue. Regulatory scrutiny over the Apple/Google partnership.	—