Apple Sheds $230 Billion From Intraday Peak After Long-Awaited Siri AI Reveal Disappoints

Apple shares dropped nearly 5% from their intraday high, erasing approximately $230 billion in market value. This decline occurred after the company unveiled its long-awaited Siri AI overhaul during the Worldwide Developers Conference on June 8. Investors reacted mutedly to the announcement, creating a 'Sell the News' scenario for the AI reset. Consequently, Apple stock fell as the market responded to the artificial intelligence updates presented at the event, impacting the company's overall valuation.