Apple’s Annual Event Will Be Sept 9. What to Expect for the iPhone and AI.

The stakes are high for Apple’s annual product event. (Courtesy Apple)

Apple will host its annual product event on Sept. 9, the company said Tuesday. Investors and customers alike will be looking for announcements regarding the company’s next iPhone launch and artificial intelligence updates.

The Apple event—almost always takes place in September—unveils what new products and updates the company will be launching in the weeks to follow. The most important product announcement this time around is expected to be the iPhone 17.

CEO Tim Cook said Tuesday in a post on X that this year’s event will be “awe dropping.” Anything less could be bad for the stock.

Apple shares have slumped 9.1% this year, compared with the 9.6% gain of the S&P 500 . One major reason for the stock’s decline is investor disappointment in the company’s rollout of AI software so far. iPhone users want an updated Siri chatbot, and patience is running thin. Apple has said it now expects to launch a more personalized Siri sometime next year.

There have been reports that Apple is looking to team up with an outside company to help build the AI-powered Siri. Bloomberg reported
last week that the iPhone maker approached Alphabet’s Google to look into building a custom AI model that would be the foundation of the new Siri.

Wall Street will be listening in closely on Sept. 9 to see if Apple provides any updates on partnerships with other AI companies.

Shares of Apple were up 0.3% on Tuesday to $227.83.

Write to Angela Palumbo at angela.palumbo@dowjones.com