Ed Elson

However, Siri AI has no firm release date, and it won't be available in the EU or in China

when it launches.

Apple stock hit a record high during the keynote address on Monday, but it quickly reversed course.

And since then, shares have shed more than 7%.

So we're here to help us break down Siri AI and what it means for investors.

We're speaking with Alex Heath, author of the Sources newsletter and co-host of the Access podcast.

And Alex has been at...

the Worldwide Developers Conference.

Alex, good to see you.

The thing that jumps out to me here is the fact that Apple comes out with this AI product.

It was supposed to be exciting.

It was supposed to inspire confidence in investors, and the stock has shed more than 7% of its value.

So we'll get into that.

But what did we learn at this conference, and what do we know about Siri AI?

It seems like Wall Street was generally underwhelmed by their AI integration here, which, I mean, at the time when AI is everything to investors, that seems like a really bad thing to underwhelm with your AI product release.

Was that your reaction?

I mean, you say that they made like a meaningful improvement, but did you find it personally underwhelming as someone who covers this stuff regularly?

Based on what you said about how they're thinking about agentic AI, you said that they think that agents are kind of overhyped right now, or at least it's very early, in combination with the fact that they have come out with what is a...

largely underwhelming and I would say dumber than average AI product.

My takeaway is it sounds like Apple does not take AI very seriously.