Apple Sued Shareholders For Alleged Overestimation Of AI Progress

JAKARTA - Apple is facing a class action lawsuit from shareholders accusing the company of underestimating the time it takes to integrate advanced artificial intelligence (AI) into Siri's voice assistant.

The allegation mentions that Apple misled investors and had a negative impact on iPhone sales and stock prices.

The lawsuit includes hundreds of billions of dollars in losses experienced by shareholders from June 9, 2025, the period when Apple launched some features and product aesthetic improvements, but AI changes were deemed minimal.

Shareholders led by Eric Tucker said Apple had an impression on the Worldwide Developers Conference in June 2024 that AI would be the main feature on the iPhone 16 with the Apple Intelligence rollout to make Siri more sophisticated and user-friendly. However, Apple does not have a functioning AI Siri prototype, making no sense to believe the feature is ready for use on the iPhone 16.

The truth began to emerge on March 7 as Apple delayed several Siri upgrades until 2026, and was strengthened at a developer's conference in June 2025 when Apple's AI advances evaluation disappointed analysts.

Since hitting record highs on December 26, 2024, Apple's shares have fallen by nearly 25%, removing about $900 billion in market value.