Goldman Sachs: AI Siri to Become New Growth Engine for iPhone, Apple's WWDC at a Critical Juncture

In the early hours of June 9 (Beijing time), Apple's 2026 Worldwide Developers Conference (WWDC26) will kick off. Market focus is heavily concentrated on the AI-enhanced Siri, which has been long overdue.

Goldman Sachs analyst Michael Ng pointed out in a report that the core highlights of this conference are the AI-enhanced Siri and the new generation "27" operating system (covering the entire lineup of iOS, macOS, watchOS, tvOS, and visionOS). The report believes that these new features will become key demand drivers for products like the iPhone, helping Apple sustain its strong revenue momentum. Data shows that iPhone revenue grew by 23% year-over-year in the first half of fiscal 2026.

Meanwhile, the report notes that historically, Apple's stock price tends to rise before WWDC but often corrects during the event. Since the end of April, the stock has accumulated a 19% gain. In contrast, UBS analyst David Vogt holds a more cautious stance, believing that WWDC26 is unlikely to serve as a positive catalyst for the stock price.

Will the Belated AI Siri Be Apple's Turning Point?

According to the Goldman Sachs report, Apple is expected to disclose the launch timeline and feature details for the AI-enhanced Siri at this WWDC. This feature was first unveiled at WWDC 2024 but has undergone multiple delays since then and has yet to be officially launched.

The new version of Siri is expected to fill in several previously promised but unimplemented features, including screen awareness, personal context understanding, and deep integration with native apps such as Messages, Calendar, Photos, and Notes. Goldman Sachs analyst Ng characterized these features in the report as important demand drivers for Apple's product line.

UBS analyst Vogt views WWDC26 as the "first major test" for Apple's AI Siri. The implication is that market validation of Apple's AI capabilities will still take time, making this conference more of a starting point than a turning point.

More AI Features and System Upgrades Rolling Out Simultaneously

In addition to the AI version of Siri, it is reported that Apple may also introduce several AI-driven additional features at this conference. For the Photos app, more advanced AI image editing tools are expected to be introduced, including three functions—Extend, enhancing photo details, and Reframe—that go beyond the existing Clean Up tool.

In terms of visual intelligence, the Visual Intelligence feature in the Camera app will be upgraded to support scanning nutrition labels and syncing them to the Health app to record dietary intake, as well as scanning business cards to automatically create contacts. In addition, the Safari browser is expected to add a tab groups feature, and the Wallet app will support generating custom passes from physical tickets.