The S&P 500 (SPY) has already gotten over its first year’s fears. The index has recovered and resumed a neutral level following a severe drop of almost 19% from April to May. Along with Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Meta (META), Alphabet (GOOG) (GOOGL), Amazon (AMZN), and Tesla (TSLA), collectively known as the Magnificent Seven. These huge corporations are driving the Nasdaq and the cap-weighted S&P 500 upward, while lesser stocks are left behind.
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Apple’s stock is still down almost 19% year-to-date, even if the other six businesses have rebounded significantly as a result of remarkable Q1 results and forward-looking AI investments. Following Nvidia and Microsoft, it presently holds the position of the third-biggest company by market capitalization. Its difficulties go beyond just pricing swings, though.
Once regarded as a possible flagship feature, Apple’s much-awaited artificial intelligence upgrade for Siri has now come to represent its problems. Referred to internally as a reset, the updated AI-enhanced Siri was intended to flawlessly interface with your messaging, email, and calendar apps. Apple has postponed the launch, first from March to May, and later indefinitely, however, because of continuing delays, programming bugs, and poor internal presentations.
According to Mark Gurman of Bloomberg, several flaws still plague the program. Engineers have said that still non-functioning items advocated only a year ago are now being advocated. Advertisements were pulled, and employee morale has fallen. Formerly a pioneer in personal technology, Apple now runs the risk of being seen as an underperforming artificial intelligence. Early in 2025, Apple paid $95 million to settle two privacy complaints about unintended Siri recordings. Fresh taxes were then levied.