Apple's New Siri Has One Major Problem

Apple's WWDC 2026 delivered an overhauled Siri powered by Alphabet's Gemini, signaling a shift away from OpenAI as a key partner. Despite promising AI innovations, Apple stock fell over 4%, reflecting a classic sell-the-news reaction from investors who largely anticipated the announcements. Morgan Stanley flagged that around 1.3 billion older devices won't support the new Siri due to memory demands. However, analyst Erik Woodring sees this as an upgrade catalyst, raising his bull-case target to $440. Some argue hardware limitations could finally drive a long-anticipated iPhone supercycle, with AI replacing the camera as the key selling feature.