apple The stock market just finished its worst day since April after reports of Siri delays surfaced and the company’s news app faced regulatory scrutiny.
The stock fell 5% on Thursday, wiping out this year’s gains and dropping nearly 4% in 2026.
The iPhone maker’s long-awaited artificial intelligence update to its personal assistant, Siri, has been internally delayed to May, and possibly later, Bloomberg reported on Wednesday.
The update was expected to be released within a few weeks, but the report said the company may slowly roll out the feature over several months.
Apple told CNBC it’s still on track for a 2026 launch.
On Wednesday, Federal Trade Commission Chairman Andrew Ferguson told Apple CEO Tim Cook to review Apple News’ terms of service and curation policies.
Apple’s 1-year stock price chart.
Ferguson cited recent “reports” that Apple News promotes left-wing news outlets while suppressing conservative content.
Last month, Apple beat Wall Street expectations when it reported first-quarter results. But the stock has fallen, in part due to recent concerns on Wall Street that big tech companies are spending too much on AI.
UBS on Tuesday downgraded the U.S. tech sector’s rating to neutral, citing “software uncertainty” and high capital spending. This comes after software stocks sold off over the past week as investors became cautious about the sector.
—CNBC’s Steve Kovach contributed to this report.
