Ming-Chi Kuo: No one doubts that Apple will catch up in AI, but WWDC26 will determine how long the multi-pronged narrative remains effective.

Apple's annual developer conference WWDC26 will open on June 8. Renowned supply chain analyst Ming-Chi Kuo believes that **regardless of what is presented at this conference, as long as the market's core narrative on Apple's AI potential remains intact, the positive trend in Apple's stock price in the second half of the year will not be easily changed.** On Monday, Ming-Chi Kuo stated on social media that his latest supply chain survey shows Apple's business momentum will remain strong through the end of the year, further reinforcing the market's core narrative: "If Apple can perform so well without AI, its future with AI will be even more promising." He pointed out that **the real focus of WWDC26 is not the short-term stock price reaction after the conference, but whether Apple can surpass Google in AI applications, intelligent agent workflows, and hybrid end-cloud experiences using the same Gemini model.** Core Narrative: AI Lag Does Not Change Bull Market Logic Ming-Chi Kuo summarized the current bullish logic for Apple as a kind of intuitive market consensus: **"Even if Apple is temporarily behind in AI, it will ultimately catch up and win."** He believes this narrative currently has weak points, but is likely to at least persist until the end of 2026. In his view, **WWDC26 will not change the positive trend in Apple's stock price for the second half of the year, but will test the durability of the bull market narrative.** The key criterion is: Can Apple, using the same Gemini base model as Google, achieve differentiation at the application level and create a superior AI experience? If the answer is yes, it will help continue the core narrative; if the answer is no, it means Gemini has set a ceiling for Apple's AI experience, and the narrative that "Apple will ultimately win" will face increasingly rigorous scrutiny—even though the stock price may not necessarily turn bearish. J.P. Morgan analyst Samik Chatterjee also listed the complete overhaul of Siri as a key focus of this conference in a preview report released on June 3. He pointed out that Apple rare disclosed "AI advancements" as part of its agenda, which analysts interpret as Apple's confidence in these upgrades being implemented on schedule. Meanwhile, expectations are rising for fall product launches such as foldable iPhones and touch-screen MacBooks, and overall market expectation for Apple's product cycle in the second half of the year is increasing. Risk Warning and Disclaimer The market has risks, investment needs caution. This article does not constitute personal investment advice, nor does it take into account an individual user's specific investment objectives, financial situation, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article fit their specific circumstances. Investing accordingly is at your own risk.