Gene Munster of Deepwater Asset Management views Apple’s Worldwide Developers Conference (WWDC) as a potential rerating catalyst, calling it the most important WWDC in the company’s 43‑year history.
The conference is expected to showcase a redesigned Siri feature that has been in development for nearly two years and will allow AI to leverage personal context securely, improving information retrieval and enabling third‑party app automation.
A new Siri app is anticipated to compete with ChatGPT, Grok, and Gemini, featuring a “Search or Ask” prompt powered by Google.
iPhone growth has surged 16% year‑over‑year in the past four quarters, compared with only 1% growth over the preceding four‑year period; the recent surge is partly driven by upgrades from the fiscal 2021 iPhone, which saw 39% growth.
The new Siri feature is not expected to be available until September, as the product remains in progress.
Apple’s AI teams have undergone changes, including a wholesale model shift powering Siri from ChatGPT to Gemini.
Apple’s active device base continues to grow but at a decelerating pace: annual growth was 9% in 2022, 11% in 2023, 10% in 2024, 7% in 2025, and 6% in 2026.
Updates to iOS and macOS 27 are expected at the conference but are considered part of the normal annual update cycle.
