TLDR
- Apple stock fell about 2% after WWDC 2026 failed to deliver a standout moment for investors
- The redesigned Siri AI can now handle complex requests and works across apps, but Wall Street was underwhelmed
- Apple confirmed its most advanced AI model, AFM Cloud Pro, runs on Nvidia GPUs via Google’s cloud infrastructure
- Tim Cook made his final WWDC keynote appearance as CEO; successor John Ternus was absent from the event
- AAPL was trading down 0.28% in after-hours following the day’s broader selloff
Apple held its annual Worldwide Developers Conference on Monday, and the stock had a rough day for it. AAPL fell around 2% as investors processed a keynote heavy on software updates but light on the kind of moment that moves markets.
The centerpiece of the event was a revamped Siri. The updated assistant can now hold back-and-forth conversations, check concert dates, set reminders, and pull context from across your apps. It’s a real step up from the old Siri. But for a market that’s been waiting on Apple to make a serious AI move, “step up” wasn’t quite enough.
Apple’s stock was down 0.84% — or about $0.28 — in after-hours trading on Monday.
The Google and Nvidia Connection
One of the more interesting reveals came not from the keynote itself, but from a tech talk Apple held afterward at its headquarters. Executives confirmed that Apple’s most advanced AI model — AFM Cloud Pro — runs in the cloud on Nvidia GPUs, hosted through Google’s infrastructure.
Apple AI executive Amar Subramanya said the AFM Cloud Pro model is comparable to Google’s Gemini frontier models in capability. VP of software Sebastian Marineau-Mes added that Apple specifically wanted Nvidia’s latest chips configured in a way that prevented them from reading server contents — a privacy requirement.
Nvidia’s “ambiguous confidential compute” technology made that possible, allowing the three companies to build a system Apple was comfortable putting its name on.
“We work with both Google and Nvidia to extend our private cloud compute infrastructure to Nvidia GPUs in Google’s cloud, while maintaining Apple’s unmatched privacy guarantees,” Subramanya said.
Despite the partnership, Apple SVP Craig Federighi was clear that Apple Intelligence uses Apple’s own models — not the public version of Gemini. Google’s technology was used to help train Apple’s models, not replace them.
Tim Cook’s Final Keynote
The event had extra significance as it marked Tim Cook’s last WWDC as CEO. Cook closed out the presentation with a personal farewell, reflecting on his time leading the company. Apple announced in April that hardware chief John Ternus will take over the top job.
Ternus, notably, was not at the keynote.
What Else Was Announced
Beyond Siri, Apple rolled out AI updates across its software lineup. Safari can now group tabs by topic, monitor pages for updates, and surface alerts after tabs are closed. The Passwords app will automatically upgrade weak credentials using AI. During phone calls, Apple Intelligence can pull relevant context from emails and messages in real time.
Apple also refined its “Liquid Glass” interface design following user feedback, giving more control over transparency settings.
NVDA ended Monday’s session up 1.67%, or about $0.80, in after-hours trading. GOOGL gained 0.59%, or roughly $0.16 after hours.
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