Apple's AI Crisis Reaches Boiling Point Ahead Of Top 100 Executive Retreat — Tim Cook And Key Execs Called Out Over Siri Failure By Top Analyst

Apple Inc. (NASDAQ:AAPL) is reportedly entering its annual Top 100 executive retreat this week. This comes amid mounting criticism over the company's stalled artificial intelligence efforts.

What Happened: Since the era of Steve Jobs, this annual March gathering brings together Apple’s 100 most influential executives, reported Bloomberg's Mark Gurman in his latest weekly "Power On" newsletter.  

He also called out top executives including CEO Tim Cook, marketing heads Greg Joswiak and Bob Borchers, software chief Craig Federighi, and AI lead John Giannandrea, saying all share blame for the failure to deliver.

See Also: Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power

“Given the nature of this collective failure, it's unlikely to result in management changes on Cook's executive team. That would mean admitting fault, which Apple hates doing,” Gurman said.

Previously, it was reported that Apple's Siri chief Robby Walker described the situation as embarrassing, ugly and disappointing, blaming the early marketing push for features that weren't ready.

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Why It's Important: Apple's long-promised Apple Intelligence — including major upgrades to Siri — is in disarray, with features delayed indefinitely and internal frustration mounting. 

Apple is under growing pressure to catch up in the AI race as rivals like OpenAI, Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Meta Platforms, Inc. (NASDAQ:  META), Amazon.com, Inc. (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT) advance rapidly.

Apple’s AI setbacks coincide with a 12.45% drop in its stock value this year. Last week, Morgan Stanley expressed concerns about the company’s AI delays, lowering its price target from $275 to $252.

Price Action: Apple shares ended Friday at $213.49, gaining 1.82% during the session. However, in after-hours trading, the stock dipped slightly by 0.07%, according to Benzinga Pro data.

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