Apple Faces Stock Decline Following AI Delays and Tariff Concerns

Analysts lower iPhone sales forecasts and earnings projections as delays in Siri upgrades and tariff challenges weigh on Apple's outlook.

Apple's stock has dropped over 15% since December, with shares closing at $216.98 on Wednesday, reflecting investor concerns over delayed AI features and tariff impacts.
Morgan Stanley reduced its price target for Apple stock from $275 to $252, citing the delayed rollout of advanced Siri features as a key factor tempering iPhone upgrade rates.
The delay in Siri's AI upgrades, now expected in 2026 or later, is projected to result in flat iPhone sales in 2025 at 230 million units and a modest 6% growth in 2026 to 243 million units.
Tariffs on goods manufactured in China are expected to increase Apple's costs by $2 billion in 2025, with limited ability to offset these expenses without exemptions.
Technical analysis indicates Apple shares have broken below key support levels, with potential further declines to $207 or $197 if selling pressure continues.