Apple has worst day since April on FTC scrutiny, Siri delay reports
Apple It finished its worst day on the stock market since April after reports emerged of Siri-related delays and the company’s news app faced regulatory scrutiny.
The stock fell 5 percent on Thursday, wiping out this year’s gains and potentially falling nearly 4 percent in 2026.
Long-awaited AI update to iPhone maker’s personal assistant siri It has been delayed until May and potentially later, Bloomberg reported on Wednesday.
The report stated that the update is expected to be released within a few weeks, but the company may slowly roll out the features over a few months.
Apple told CNBC it’s on track for a 2026 launch.
On Wednesday, FTC Chairman Andrew Ferguson told Apple CEO Tim Cook to review the terms of service and curation policies at Apple News.
One-year stock chart of Apple.
Ferguson referenced recent “reports” that Apple News is favoring left-leaning news organizations while suppressing conservative content.
Last month, Apple beat Wall Street expectations by reporting first-quarter earnings. But the stock has fallen in part due to Wall Street’s recent concerns that big tech companies are spending too much on artificial intelligence.
On Tuesday, UBS downgraded the US tech sector to neutral, citing “software uncertainty” and heavy capital spending. This follows a sell-off in software stocks last week as investors grew wary of the sector.
— CNBC’s Steve Kovach contributed to this report.
