Apple is poised for a comprehensive overhaul of its Siri assistant.

The company's annual Worldwide Developers Conference (WWDC) commences on June 8th. This year, anticipation centers less on new features and more on whether Apple can deliver on its 2024 artificial intelligence promises.

Analyst Samik Chatterjee noted in a recent research note that the central focus of this WWDC is a significant redesign of Siri, with the conference agenda unusually highlighting "AI advancements." This is interpreted as a sign of confidence in delivering these upgrades, contrasting with previous, less-defined timelines.

The revamped Siri is expected to launch as a standalone app, functionally comparable to chatbots like ChatGPT and Gemini, with support for multi-turn conversations. The Dynamic Island may feature a permanent search or query entry point for instant Siri access. Crucially, Siri is anticipated to replace Spotlight as the iPhone's universal search function, routing all system-level searches through the AI.

Underlying this change is a major architectural shift. Previously, Apple's AI framework relied on its own models with ChatGPT as the sole external option. The new framework is expected to function more as an AI query distribution platform, allowing users to choose which model processes their request, similar to selecting a default search engine in Safari. If realized, this would elevate Gemini from a supporting role to a foundational component.

Concurrently, the fall product lineup is generating excitement, with a foldable iPhone and a touchscreen MacBook expected to debut. Combined with substantive AI upgrades, market expectations for Apple's second-half product cycle are rising.

What to Expect from the New Siri

The anticipated redesign will see Siri become a standalone app, matching the capabilities of leading chatbots by supporting extended, conversational interactions.

The Dynamic Island is likely to host a persistent access point for searches or questions, enabling users to summon Siri instantly. More importantly, Siri is set to take over as the iPhone's primary search interface, meaning all system-level searches will be handled by the AI assistant.

Analysts expect several specific functional upgrades for Siri:

Cross-app Multi-step Commands: A single voice command could trigger a sequence of actions across multiple apps, enabling true agent-like task execution.

On-screen Awareness: Siri would be able to read and interpret content displayed on the screen, using this context along with user data to provide answers.

Visual Smart Camera Mode: The camera could identify real-world objects and trigger related actions.

AI Photo Editing: The Photos app's editing capabilities are expected to receive a major upgrade powered by AI.

Gemini's Rise and ChatGPT's Shifting Role

Over the past year, Apple's partnership with OpenAI was viewed as a cornerstone of its AI strategy. The expected WWDC announcements, however, suggest a change in this dynamic.

Gemini is projected to become the foundational model underpinning Siri, while ChatGPT is demoted to being one option among other third-party models—users can select it, but it will no longer be the default external routing choice.

The logic of this new architecture is for Apple to act as a platform, allowing the most effective models to operate, without the company betting exclusively on any single provider. For Google, this represents significant inroads; for OpenAI, its exclusive advantage is fading; for Apple, this is a strategic move to build AI capabilities as infrastructure.

The Fall Hardware Lineup: Foldable iPhone in Focus, Pricing a Question Mark

On the hardware side, the product lineup for the latter half of the year appears more compelling than usual.

The foldable iPhone represents the most significant new product category. As Apple's first foray into a foldable form factor, there is widespread market anticipation regarding its potential to drive a device upgrade cycle. Concurrently, iOS 27 is expected to be optimized for foldables, with features like a two-column app layout, an iPad-like multitasking mode, and a new sidebar design tailored for the new screen.

The touchscreen MacBook is also noteworthy. macOS 27 is set to introduce a touch-friendly interface and integrate the Dynamic Island into the MacBook.

One detail warrants attention: the standard iPhone 18 model is not expected until the first quarter of 2027. The initial fall launch will feature the Pro and Pro Max variants alongside the foldable model. This staggered release schedule may naturally steer customers toward the higher-end options.

Pricing remains the largest uncertainty. Persistent memory costs continue to pressure margins, potentially leading Apple to increase iPhone 18 series prices by approximately $50 to protect profitability. This is not an insignificant increase, and the market is still gauging potential consumer acceptance.

Historical Trend: Apple Stock Typically Outperforms During This Window

Historical data shows a stable pattern for Apple stock performance between the WWDC period and the fall product launches.

Over the past decade, from early June to mid-September, Apple shares have outperformed the S&P 500 index in most years, with an average excess return of around 11%. Year-to-date, Apple's stock price has already outpaced the broader market.

The logic behind this trend is the steady accumulation of expectations ahead of product releases. This year introduces more variables—the form factor innovation of a foldable iPhone, the substantial Siri overhaul, and the debut of a touchscreen Mac—which together provide the market with greater room for imagination.

Of course, real risks exist. Questions remain about the timely delivery of AI features, consumer acceptance of the foldable iPhone's quality control and pricing, and whether price increases might hurt shipment volumes. Any execution missteps could disrupt the historical performance logic of this seasonal window.