Apple hit with class action lawsuit over Siri AI delays and alleged impact on iPhone 16 sales

Apple Inc. (NASDAQ: AAPL) is the focus of a newly filed securities class action lawsuit alleging the technology giant misled investors regarding its artificial intelligence roadmap and product readiness, particularly tied to advanced Siri features on the iPhone 16. The lawsuit, filed in the United States District Court for the Northern District of California under the title Tucker v. Apple Inc., covers investors who acquired Apple shares between June 10, 2024 and June 9, 2025. The legal window to seek appointment as lead plaintiff closes on August 19, 2025.

The lawsuit has been filed by investor rights law firm Robbins Geller Rudman & Dowd LLP, which claims that Apple and certain of its senior leadership team violated the Securities Exchange Act of 1934 by overstating the timeline and viability of AI-powered Siri features, leading to stock losses when rollout delays became public.

What are the allegations linking Apple’s AI promises to investor losses during the class period?

According to the complaint, the core allegation is that Apple falsely represented or failed to disclose material risks associated with its artificial intelligence feature development, specifically its “Apple Intelligence” suite and the planned upgrade to Siri. The American technology company had announced at its 2024 Worldwide Developers Conference (WWDC) that Siri would receive significant AI enhancements. However, the lawsuit alleges that Apple was aware that such features were not on track for timely release and that they were unlikely to be available with the iPhone 16.

Investors claim these omissions and misrepresentations led to inflated expectations for iPhone 16 demand, resulting in stock price declines as consumer and analyst sentiment turned negative. The plaintiffs further argue that the gap between marketing promises and product readiness created material exposure for Apple shareholders.

How did Apple’s stock react to multiple disclosures regarding delayed Siri integration?

A series of events from March to June 2025 triggered successive declines in Apple’s stock price. On March 7, 2025, Apple disclosed that advanced AI features promised for Siri were being indefinitely delayed, contradicting previous public communications. Market response was swift, as share prices slipped in response to the unexpected admission.

Subsequently, on March 12, 2025, a report published by a major financial institution warned that the delayed Siri rollout would disrupt the iPhone upgrade cycle throughout 2025 and into 2026. The report cited data suggesting nearly half of prospective iPhone buyers held off on upgrading to the iPhone 16 due to unmet AI expectations. On the heels of this news, Apple’s stock declined further as institutional investors revised their positions.

A more pronounced market reaction occurred on April 3, 2025, when the Wall Street Journal published an article titled “Apple and Amazon Promised Us Revolutionary AI. We’re Still Waiting.” The article specifically called out Apple for failing to deliver the “more personal” Siri experience it had heavily marketed in 2024. The story criticized Apple’s premature promotion of incomplete features, arguing that the firm’s failure to follow through had damaged investor and consumer trust. The lawsuit claims this article directly contributed to a more than 7% drop in Apple’s share price.

Finally, the 2025 WWDC held on June 9 failed to address expectations around advanced Siri functionality. According to the complaint, Apple did not provide any concrete updates on the delayed AI-powered Siri experience—precisely one year after first announcing the feature suite. The absence of updates reportedly led to another decline in Apple’s stock price.

What legal remedies are available to Apple shareholders affected by the Siri AI delays?

Under the Private Securities Litigation Reform Act of 1995, any investor who acquired Apple shares during the designated class period and experienced substantial losses can seek appointment as lead plaintiff. The lead plaintiff plays a central role in directing the lawsuit on behalf of the broader investor class and is typically the party with the greatest financial stake.

Robbins Geller Rudman & Dowd LLP is currently inviting institutional and individual investors to apply for lead plaintiff status before the August 19, 2025 deadline. Investors may also remain passive class members while still being eligible for a share in any potential settlement or court-awarded recovery.

How does this latest class action compare to previous investor lawsuits against Apple?

This is not the first time Apple has faced legal scrutiny over statements made to the investing public. Robbins Geller previously represented shareholders in a major case that alleged Apple CEO Timothy Cook made materially false statements related to product demand and supply chain dynamics. That case concluded in 2024 with a USD 490 million settlement—one of the largest securities class action recoveries ever in the Northern District of California and the broader Ninth Circuit.

The current case, while still in its early stages, could draw similar investor attention given its potential scope and the renewed focus on AI as a determinant of tech stock valuations. Institutional investors appear to be monitoring the developments closely, particularly in light of Apple’s AI positioning versus peers such as Microsoft, Alphabet, and NVIDIA.

How does this lawsuit reflect broader investor concerns about Apple’s artificial intelligence roadmap?

While Apple has long been praised for its device integration and hardware ecosystem, its late arrival to the AI race has invited criticism. The American technology company had positioned its Siri upgrade as a major turning point in consumer-facing AI. However, delays in execution have made investors question Apple’s competitiveness in an AI-first market landscape.

Institutional sentiment toward Apple has remained mixed throughout 2025. Some fund managers have expressed concern that Apple’s marketing-heavy AI positioning lacks technical depth compared to generative models from competitors. Others argue that Apple still has the ability to execute at scale once deployment begins, especially if integration across iOS and macOS is handled securely and with privacy in mind.

The lack of substantive Siri updates at the 2025 WWDC, coupled with previous media scrutiny, has reinforced market skepticism. Analysts expect Apple to face increasing pressure to deliver a cohesive AI roadmap before the launch of the iPhone 17 in late 2025.

What is the near-term and long-term outlook for Apple amid legal and market headwinds?

With the class action lawsuit now underway and the lead plaintiff selection process set to conclude in August, Apple could face months of legal proceedings and further shareholder inquiries. While no financial liability has yet been determined, the lawsuit could become a focal point for broader criticism of Apple’s strategic communication practices in the AI era.

Meanwhile, Apple’s stock performance remains tied to investor perceptions of product innovation, market readiness, and competitive differentiation. The American technology company may need to significantly accelerate its AI product rollout or offer clearer communication during earnings calls and future events to stabilize investor sentiment.

Institutional investors will likely continue to evaluate Apple’s capital allocation strategy, iPhone upgrade momentum, and AI product delivery timelines as key metrics for forward valuation. Until the firm successfully demonstrates tangible AI capability—especially through Siri or Apple Intelligence—market volatility may persist.