Apple (AAPL) saw a significant dip in stock price on Monday following reports that the company has postponed the release of an AI-powered upgrade for its Siri 2.0 digital assistant.
On Friday, Bloomberg reported that Apple has delayed the release of the updates to the Siri digital assistant without identifying when exactly the company will release them.
Apple said that features introduced in June to Siri, including tapping into users’ personal information to answer queries and have more precise control over apps, will now be released sometime in “the coming year.”It is worth noting that Apple had announced that it will release the iOS 18.4 software update in April, which was planned to include the Siri related updates.
Siri anticipated features also include personal context, on-screen awareness, and in-app actions.
Apple stock ended the day 4.9% lower, closing at $227.48, after briefly falling as much as 6.2% to $224.22 earlier in the session. The drop pushed the stock below its critical 200-day moving average, a key support level. However, it managed to recover slightly, closing just above this support level.
Apple provided a statement to tech blog Daring Fireball, suggesting that the next version of Siri won’t be available until the launch of iOS 19.
“Siri helps our users find what they need and get things done quickly, and in just the past six months, we’ve made Siri more conversational, introduced new features like type to Siri and product knowledge, and added an integration with ChatGPT”, according to Apple statement.
It added: ‘ We’ve also been working on a more personalized Siri, giving it more awareness of your personal context, as well as the ability to take action for you within and across your apps. It’s going to take us longer than we thought to deliver on these features and we anticipate rolling them out in the coming year”.
“We need more time than initially expected to deliver these features, and we now plan to roll them out over the course of the next year,” Apple spokesperson Jaqueline Roy stated.