Apple Investors Tepid About New AI Platform

Summary

Ed Ludlow reports on Apple's WWDC keynote unveiling a major AI reboot for Siri and the operating system, with features that work across devices. The stock initially rose 2.7% then fell 1.5%, reflecting a sell-the-news reaction. Ludlow notes that while the features are not groundbreaking, they appear genuinely useful and put Apple back in the AI game. Beta launches today for developers, with wider US release by year-end and a delayed EU rollout.

• Apple announced a major AI reboot at WWDC, including a standalone Siri app with chatbot interface.
• Siri now supports multi-step tasks across iPhone, Mac, and iPad.
• Google Gemini will be integrated alongside Apple's own AI models.
• Stock rose 2.7% on announcement then fell 1.5%, ending the session down.
• Analysts see a 'sell the news' reaction as many details were already known.
• Beta available for developers today; US public release by end of 2024.
• EU release delayed to March 2025; no timeline for China due to regulatory hurdles.
• Reporter says main takeaway is that features work and put Apple back in the AI race.