US EditionWall Street Expert Calls For Another 50% Gain For Apple Stock
SAN FRANCISCO, CALIFORNIA, JUN 20 – Shareholders accuse Apple of misleading investors on AI Siri rollout, linking delays to a nearly 25% stock drop that erased about $900 billion in market value.
- On Friday, Apple shareholders, with Eric Tucker as the lead plaintiff, initiated a class action lawsuit in California accusing the company of misleading investors about delays in the rollout of AI-enhanced Siri features and the Apple Intelligence platform.
- The lawsuit alleges that Apple downplayed how long it would take to deliver a more personalized Siri, fraudulently raising expectations at WWDC 2024 without a working prototype or realistic timeline.
- Apple promoted its AI features as a central aspect of the iPhone 16 launch in June 2024 but delayed the rollout of advanced Siri functionalities until 2026 and showcased only modest AI enhancements at WWDC 2025.
- The complaint references John Gruber’s characterization of the Siri demonstration as a “concept video” and includes Eric Tucker’s statement that Apple did not have a functioning prototype and therefore was unlikely to deliver the technology within the planned timeframe.
- The lawsuit demands unspecified compensatory damages for losses exceeding $900 billion due to alleged false statements, and Apple has remained silent on the legal action.
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Wall Street Expert Calls For Another 50% Gain For Apple Stock
Apple (NASDAQ:AAPL) stock has been one of the biggest laggards in the Magnificent Seven in recent years. The company is playing it slow and steady with Apple Intelligence, and as it opens up its wallet to move a portion of iPhone manufacturing to India, there isn’t much to get excited about. But it’s times like these, when the news is mostly bearish, that tend to be the best time to load up on Apple shares. While many analysts have grown a bit s…
In an unexpected turn, Apple faces a collective demand proposed by a group of shareholders.The demand, recently filed, accuses the technological giant of minimizing the time needed to integrate advanced features based on artificial intelligence in Siri, its popular assistant.According to the original report, this situation would have had a negative impact on the sales of the iPhone and the price of its shares.Impact on sales and sharesThe centra…
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