Apple Faces June 8 WWDC Test as Siri-Gemini Upgrade Fuels 25% Upside Calls
Updated
Updated · CNBC · May 26
Apple Faces June 8 WWDC Test as Siri-Gemini Upgrade Fuels 25% Upside Calls
5 articles · Updated · CNBC · May 26
June 8 marks Apple’s next big stock catalyst, with WWDC expected to show whether a Google Gemini-powered Siri can sustain an eight-week rally that has lifted shares to near-record highs.
Melius raised its Apple target to $385 from $355 and Bank of America lifted its view to $380 from $330, arguing a more conversational Siri could deepen app integration and expand high-margin services revenue.
Apple turned to Google in January after years of uneven Siri progress, including a 2024 OpenAI tie-up and underwhelming AI showcases at WWDC 2024 and 2025.
Shares have climbed 25% since their March 30 Iran-war low and are up more than 13% this year, outpacing the S&P 500’s nearly 10% gain as investors bet WWDC can finally add AI momentum.
With Google now powering Siri, can Apple still guarantee its famous user privacy promise?
Is Apple's new 'agentic' Siri a true revolution or just a clever repackaging of Google's AI?
Apple-Google Gemini AI Deal: Siri’s Major Overhaul, iOS 27 Features, and the Future of AI Assistants
Overview
WWDC 2026, starting June 8, will be a major milestone for Apple’s AI strategy. At this event, Apple will unveil a significantly overhauled Siri, now powered by Google’s advanced Gemini AI. This smarter Siri requires much more cloud processing power, so Apple has partnered with Google to explore running Siri’s enhanced operations on servers inside Google’s data centers. This collaboration marks a transformative step for Apple, combining its vision for intelligent assistants with Google’s AI expertise, and sets the stage for a new era of smarter, more capable virtual assistants.