Apple Inc. (NASDAQ:AAPL) has shipped more than 450 million Apple Intelligence-capable iPhones through the first quarter of 2026, giving it the world’s largest installed base of generative AI-ready smartphones, according to a Counterpoint Research report published Monday.
The research firm said Apple’s large premium user base gives it a significant advantage because any new AI feature can be deployed to millions of devices almost immediately.
WWDC Puts Siri In The Spotlight
Despite that hardware lead, Counterpoint said Apple has fallen behind rivals in AI software, particularly after its 2024 promise to deliver a revamped Siri.
With Apple’s Worldwide Developers Conference underway, the firm said the company needs to “deliver a revamped Siri showcasing practical use cases” and “make a strong statement.”
Counterpoint also pointed to the reported Apple-Gemini partnership, saying limited details have emerged so far, and WWDC could clarify what the collaboration means for Siri.
Agentic AI Seen As The Next Battleground
Counterpoint noted that the delay has not yet hurt iPhone demand. According to the report, iPhone 17 is outperforming its predecessor, with first-quarter iPhone revenue reaching a record, suggesting AI is not yet the main purchase driver for consumers.
However, Principal Analyst Varun Mishra warned that Apple should not wait much longer to overhaul Siri. “However, Apple should not delay upgrading Siri for too long. The arrival of Agentic AI is imminent, and this could fundamentally alter how humans interact with their smartphones,” Mishra said.
He added that AI agents could become the primary interface above operating systems and applications, potentially reshaping the smartphone industry.
Historically, Apple has introduced new technologies later than competitors but has often differentiated itself through execution and user experience. Counterpoint said expectations for a revamped Siri are now high and that Apple should focus on practical use cases that improve the user experience without compromising privacy.
The report concluded that even if the long-term impact of agentic AI remains uncertain, the opportunity is too significant for Apple to ignore.
Technology Rally Supports Apple
Apple stock traded more than 2% higher on Monday as investors piled into large-cap technology stocks, helping lift the broader market. The Nasdaq gained 2.21%, while the S&P 500 advanced 0.74%.
Apple continues to trade in a strong long-term uptrend. The stock sits 3.4% above its 20-day simple moving average of $304.25, 11.9% above its 50-day average of $281.24, and 18.6% above its 200-day average of $265.19. The golden cross formed in September 2025 remains intact, supporting the longer-term bullish outlook.
However, momentum indicators suggest the recent rally may be losing some strength. The moving average convergence divergence (MACD) indicator remains below its signal line, indicating buying pressure has eased from earlier levels.
With shares approaching their 52-week high of $316.94, traders will be watching whether the stock can sustain a breakout or pull back toward key support. A major support zone sits near $265, aligning with the 200-day moving average.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $321.10. Recent analyst moves include:
- Wedbush: Outperform (Maintains forecast to $400.00) (June 5)
- Bank of America Securities: Buy (Raises forecast to $380.00) (May 26)
- Tigress Financial: Strong Buy (Raises forecast to $375.00) (May 14)
Apple Price Action
AAPL Stock Price Activity: Apple shares were up 2.14% at $313.92 at the time of publication on Monday, according to Benzinga Pro data.
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