Apple Stock Drops 5.2% Following Siri Feature Delay

Apple Stock Drops 5.2% Following Siri Feature Delay- Apple’s (AAPL) stock saw a significant dip of 5.2% on March 10 after the company confirmed a delay in launching its anticipated “personalized” Siri features powered by artificial intelligence. This setback follows a turbulent period for the tech giant, which has faced macroeconomic pressures and other challenges in recent weeks.

Siri AI Features Delayed

Apple had initially planned to roll out new AI-powered, personalized Siri features as early as April. However, the company now projects a release sometime in the “coming year,” pushing back the rollout timeline. Apple spokeswoman Jacqueline Roy commented on the delay, explaining that the company needs more time to fully deliver on the new features.

“It’s going to take us longer than we thought to deliver on these features,” said Roy.

While the delay might be disappointing, Apple has still made strides in improving Siri in recent months, with Roy highlighting several new updates:

• More Conversational Siri: The assistant has become more fluid and natural in conversations.
• Type to Siri: Users now have the option to type commands rather than only speaking them.
• Product Knowledge: Siri’s ability to assist with product-related inquiries has improved.
• ChatGPT Integration: Apple has integrated ChatGPT into Siri, enhancing its capabilities.
• Personalization Efforts: Apple is working to make Siri more context-aware and capable of performing actions within and across apps based on individual user preferences.

Market Turmoil and Stock Impact

Apple’s stock decline follows a broader trend of volatility in the tech sector. The stock’s drop is compounded by mounting macroeconomic concerns. Earlier in February, a selloff in tech stocks—sparked by disappointing results from Nvidia (NVDA)—put pressure on the Nasdaq 100. Additionally, geopolitical tensions and economic uncertainty surrounding President Donald Trump’s tariffs have added to investor anxiety.

Economic Pressures Add to Apple’s Struggles

Several economic factors are impacting Apple’s outlook:

1. Job Market Underperforming: The U.S. job market fell short of expectations in February, with fewer jobs added than anticipated. The unemployment rate also increased slightly from 4% to 4.1%.
2. Potential Economic Downturn: The White House has hinted at a possible economic downturn, further fueling concerns among investors.
3. Trump’s Tariffs: The ongoing trade tensions and tariffs on imports from China, Canada, and Mexico may affect Apple’s operations and profitability.

iPhone Sales Decline in Fiscal Q1

In addition to these external pressures, Apple reported a decline in iPhone sales for the fiscal 2025 first quarter. Revenue from iPhone sales fell by nearly 1%, totaling $69.14 billion. This decline is significant, as iPhones remain the company’s largest revenue driver, making up more than half of its total sales.

With these mixed signals, Apple’s path forward appears uncertain, as it navigates both internal product delays and external economic challenges.