Apple's stock plunged over 2.5% during its WWDC keynote after Apple software chief Craig Federighi announced a delay in major Siri AI upgrades. The delay, highlighting Apple's slow progress in AI compared to competitors like Google and Microsoft, disappointed investors who anticipated significant AI advancements. Analysts suggest Apple needs to accelerate its AI development and potentially pursue acquisitions to remain competitive in the rapidly evolving AI landscape. The admission of Siri's delayed improvements led to a significant loss in market value, underscoring the pressure on Apple to catch up in the AI race.

Prepared by Christopher Adams and reviewed by editorial team.