Apple is preparing itself for its WWDC 2026 keynote, in which it will present its long-term plans concerning AI. In addition to the confirmation of collaboration with Google to enhance Siri, rumours are flying about the development of a standalone Siri application. In addition, Apple intends to rely on the Gemini models to launch the future Siri, as well as several other Apple Intelligence products. However, according to analyst Ming-Chi Kuo, there is a big question about Apple’s Siri overhaul. He said, is it possible for Apple to offer something different from Google by relying on the same AI technology? In his opinion, investors should be less concerned with the instant stock price fluctuations after the presentation and more about the ability of Apple to make these AI models competitive compared to Google.
In a recent post on X, Kuo said that positive investor sentiment toward Apple is based on a simple belief. Many investors think that although Apple is currently behind in AI, it will eventually catch up and become a leader in the space. He noted that this confidence remains strong despite Apple’s slower AI progress compared to some competitors.
WWDC26 won't change Apple's positive 2H26 share-price trend, but it will test the staying power of the bull narrative
— 郭明錤｜Ming-Chi Kuo (@mingchikuo) June 8, 2026
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1. Apple's core bull narrative right now is an almost intuitive market consensus that few people push back on: "Even if Apple is temporarily behind on AI, it…
Based on his latest supply chain checks, Kuo believes Apple’s business performance will remain strong throughout 2026. He added that Apple’s continued success, even without major AI breakthroughs so far, strengthens the view that the company could perform even better once its AI efforts begin delivering meaningful results.
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Moreover, the analyst does not think that WWDC 2026 will make much difference to Apple’s stock price movement trend during the second half of the year because so long as people believe in the company’s ability to deliver on its promise in the field of AI, nothing else changes.
Nonetheless, he believes that WWDC 2026 will be important for a completely different reason. According to him, success should be measured in terms of whether Apple will manage to outperform Google using the Gemini foundation when it comes to offering better AI applications and agentic workflows.
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If Apple succeeds, it could strengthen confidence in the company’s AI future and extend the positive narrative around its stock. If it fails, the implication is that Google Gemini sets a ceiling for Apple’s AI experience, and investors may begin questioning whether Apple’s AI ambitions are limited by technology that it does not fully control. While that would not automatically make the stock bearish, Kuo says the long-standing belief that Apple will ultimately come out ahead would begin to face growing scrutiny.