A major Wall Street bank believes Apple is approaching a pivotal moment in its AI rollout, signaling that iPhone users may soon see a sweeping upgrade to Siri’s intelligence and capabilities.
In a new CNBC interview, securities analyst Wamsi Mohan says Apple’s next phase of device upgrades will hinge on AI, noting that consumers don’t need annual revolutionary features to upgrade—only meaningful improvements over multi-year cycles.
Mohan also believes that Apple has a long runway to get its AI program right.
“I think that period of time actually is quite large. If they were to extend this out for three or four years, I think people would still upgrade. The upgrades are happening not so much because the features are amazingly different. It’s that after four years, the features are amazingly different compared to a four-year-old phone.”
The Bank of America analyst notes that Apple is working behind the scenes to provide customers with AI experiences.
“Apple is not sitting still in AI. We do expect them to develop, partly with maybe Google, Gemini on-device models, also developing Gemini on Apple Silicon that they can run within their own data center.”
He adds that customers should expect a substantial Siri improvement as the company deploys more capable on-device intelligence.
“We’re pretty optimistic that within the next like 12 months we are going to see a much better AI-enabled Siri.”
Last month, Intelligent Alpha founder Doug Clinton said Apple (AAPL) will likely soar to new all-time highs if Siri gets an AI integration.
“If they figure out how to make Siri a competent AI assistant, I think that you could see the iPhone 18 cycle be even better than the iPhone 17 cycle, because users will hear about a Siri that finally works.”
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