Contessa Brewer (Anchor) 00:00.040
The stakes are high going into 2026. Steve Kovac is following this in today's tech check. So, how's it looking for 2026?
Steve Kovach (Technology Correspondent) 00:07.640
It's going to be all about AI. So, like you mentioned, this year it was the tariff thing that was the biggest drag on the stock. If In fact, if you look from August 6th when Tim Cook went to the Oval office with President Trump and gave him that golden trophy and said we're
Steve Kovach (Technology Correspondent) 00:20.760
going to invest $600 billion, stock has been up about 35% since then. So, it's up about 9% on the year. And the rest of it, the hangover here is artificial social intelligence. Now, as you alluded to, they failed to deliver that Siri AI update that was supposed to happen in
Steve Kovach (Technology Correspondent) 00:35.920
March. Uh, they said it's going to happen next year. Now, a lot of people think that means March of 2026. And look, we know what it's supposed to do. We know how it's supposed to work, but is it going to be good? And by the way, what investors can test really need to pay
Steve Kovach (Technology Correspondent) 00:50.080
attention to, it has to be so good that it convinces people to upgrade their phones because unlike ChatGPT or Gemini and so many other chatbots, Apple intelligence and this new version version of Siri is going to be free with your iPhone. So Apple needs to uh make sure people
Steve Kovach (Technology Correspondent) 01:06.080
are buying these new phones in order to enable those new AI features. That means uh anybody with a 15 or lower would have to go out there and buy it. So that that's the one thing. The other thing they could possibly do is they could change their mind and say we're going to do a
Steve Kovach (Technology Correspondent) 01:19.880
subscription fee uh for these new advanced features. Maybe they introduced some stuff that they didn't show us already, but it's been a long time coming. It was June 2024 when they first announced Apple Intelligence and here we are it's by the time they actually get it out the
Steve Kovach (Technology Correspondent) 01:35.200
door. It's going to be about two years later.
Contessa Brewer (Anchor) 01:36.880
The thing that I find baffling is that Apple has always led the way in new tech and getting especially consumer facing Right. technology What is taking so long?
Steve Kovach (Technology Correspondent) 01:47.680
It It's not uh Well, lead the way in the sense that they'll take something that's already there and just make it better, right? I mean
Contessa Brewer (Anchor) 01:52.920
if you smartphone existed at least if you want to look at BlackBerry leading the way Exactly. on
Steve Kovach (Technology Correspondent) 01:57.840
smartphones but you know like But then they took that idea and and made it so much better, Right right. And And so people were expecting them to do the same with artificial intelligence. What was the problem there? Uh part of it could be the team that they had in place. Uh so
Steve Kovach (Technology Correspondent) 02:09.280
John Gianandrea, he was the head of AI. He's out. Uh he got pushed out most likely and he is uh going to be out of the company at the beginning of next year. There's a new head of AI who is not even reporting to Tim Cook yet. That could be part of it. The other thing is they
Steve Kovach (Technology Correspondent) 02:23.280
decided to mostly build it themselves as opposed to what they're going to do next year, partner with Google or Anthropic or ChatGPT. GPT to do it and they couldn't make that happen.
Contessa Brewer (Anchor) 02:32.000
The AI is a piece of that. Right. How much of a piece is the affordability of the Apple ecosystem?
Steve Kovach (Technology Correspondent) 02:39.240
Because Meaning it's what
Contessa Brewer (Anchor) 02:40.520
Well, if you've got people who are affordability focused Yeah that it's an easy choice to go with an Android over an Apple product. You
Steve Kovach (Technology Correspondent) 02:51.320
You also got to keep in mind that is true, but especially here in the United States, there's so many deals. We see these commercials all the time. You trade in your old phone, you get it for free. The carrier give you these enticing deals in order to get you to subscribe to
Steve Kovach (Technology Correspondent) 03:04.760
them. They pay Apple upfront and you pay them back over time. So a lot of people are they end up getting their phone for basically zero down, let's call it and you kind of lease it over time. So the affordability of the phones becomes less of a problem. It's these subscription
Steve Kovach (Technology Correspondent) 03:18.320
fees that they're laying on top of it that could affect kind
Contessa Brewer (Anchor) 03:22.400
of what you're talking about.