Apple stock price fell following the company’s Worldwide Developers Conference on June 8, 2026, as investors weighed a mix of factors including a simmering legal dispute with OpenAI over a failed ChatGPT partnership.
Shares of Apple fell close to 2% on Monday after the iPhone maker unveiled its highly awaited Siri AI update and other features at WWDC, according to Investopedia. The stock had climbed to record highs the week before, reaching $317.40 intraday on June 7, as anticipation built ahead of the event, but shares slid during the keynote presentation.
The muted investor reaction underscored disappointment with Apple’s AI announcements. Investors had expected more dramatic breakthroughs, but the new Siri AI and other software updates were seen as incremental rather than transformative. On June 9, Apple shares fell 3.64%, according to Bank of America analysts cited by AOL. The stock closed at $291.13 on June 12, down from the pre-event highs.
Compounding the WWDC uncertainty is OpenAI’s brewing legal action against Apple. On May 14, Bloomberg reported that OpenAI is exploring legal options against Apple, including sending a formal breach-of-contract notice, after the two companies’ ChatGPT integration partnership failed to deliver expected results. The partnership, announced in June 2024, was supposed to integrate ChatGPT into Siri and the iPhone’s Visual Intelligence feature, generating billions of dollars annually in subscriptions. Instead, the integration has been difficult to find and revenue has fallen far short of projections, according to Quartz.
Internal research OpenAI shared with Bloomberg found that iPhone users overwhelmingly prefer the standalone ChatGPT app to accessing OpenAI’s technology through Siri. An unnamed OpenAI executive told Bloomberg, “We have done everything from a product perspective. They have not, and worse, they haven’t even made an honest effort.” From Apple’s side, the company has cited privacy concerns about OpenAI’s data practices and growing frustration over OpenAI’s hardware ambitions, which have been fueled by hiring former Apple design chief Jony Ive and other Apple engineers, according to Quartz.
Apple has faced investor pressure over its AI progress. The company was seen as an AI laggard after a series of delays in rolling out promised features. Gabelli Funds Portfolio Manager John Belton told CNBC on Monday that “the first era of AI—the generative AI era—I think kind of passed Apple by,” though he expressed hope the company would catch up during the agentic AI era. Analyst Dan Ives of Wedbush called Monday’s event “a good step in the right direction as AAPL looks to fill the void in its AI strategy,” but the broader market reaction remained lukewarm.
The timing of the OpenAI dispute, which became public in mid-May, added an additional layer of concern for investors heading into WWDC. By the time of the conference, the relationship between the two companies had already deteriorated significantly, with OpenAI’s legal team and an outside law firm preparing potential action. OpenAI has stated it is unlikely to act before its ongoing trial against Elon Musk concludes, and the company still hopes to resolve grievances outside of court, according to Bloomberg.
Sources
- Investopedia — reported Apple shares fell close to 2% on Monday, June 8, after WWDC, sliding while broader markets rose
- Quartz — detailed OpenAI’s legal exploration against Apple, the failed ChatGPT integration, and Apple’s privacy and hiring concerns
- TradingView — confirmed Apple stock reached $317.40 all-time high on June 7, 2026
- AOL/Bank of America — reported Apple shares fell 3.64% on June 9
- CNBC — quoted analyst commentary on WWDC reception and Apple’s AI strategy
- Wedbush — provided analyst perspective on WWDC as a step forward in Apple’s AI direction
