Apple shareholders have filed a lawsuit against the company. They have filed a lawsuit alleging that Apple has delayed AI (artificial intelligence) updates to its devices, including the iPhone. Investors alleged that Apple did not have a prototype of the AI-based feature for the iPhone's voice assistant tool, Siri.

The shareholders filed a lawsuit in San Francisco federal court on Friday with the conclusion that the AI ​​feature will not come even in the iPhone 16. Last year, Apple said that AI features will be released next year. But the recently concluded annual Worldwide Developers Conference (WWDC) didn't show much new AI features. Customers and investors are disappointed as the company has not given any information about the delay.

Apple's Chief Executive Officer (CEO) Tim Cook, Chief Financial Officer Kevan Parekh and former CFO Luca Maestri have been sued. In the conference of 2024, Apple has promised that AI will be an important technology in iPhone 16, Siri will be more powerful and user-friendly, but there is no initiative, the delay is considered natural and the shareholders have said that they have not even created a model for AI features.

Apple's share price has also fallen recently amid growing frustration over the lack of AI features. According to Reuters, its price has fallen by a quarter since last December 26. According to Jonathan Stempel in Reuters, the company's market value has been damaged by about 900 billion dollars. Experts have predicted that iPhone sales will drop from 5 percent to just 2 percent this year and reach 232 million units.  While the

technology companies are making new initiatives in AI, Apple is lagging behind, and there are also complaints from the company's shareholders and users. The company's share price fell 1.5 percent as Apple's event went live, amid high expectations for new AI-related features at this year's developers conference. Apple's share price, which was $204.34 per share at the start of trading, began to fall during the 'keynote speech'. By the next day, June 10, the share price had fallen to $201.42. 

Apple's market capitalization was about 3.28 trillion dollars at that time and has now been limited to 3 trillion. When the market opened at 9:30 a.m. on Monday, according to American time, Apple's share price per share decreased by 0.43 percent and was limited to 200 dollars.

The company's share price fell after the company did not make expected new announcements about AI, according to US media. Apple's AI initiative has been slow and disappointing, writes Isabella Basticot in the Wall Street Journal. In this year's conference, Apple only announced small and embedded AI models and it is his understanding that it will not make much difference in the user experience. 

Apple is under pressure to update its AI tools for both developers and users. Apple's event announced 'Apple Intelligence' for Siri and app automation, but it was noted that it was not as good as the AI ​​tools released by Google and Microsoft. "What Apple is doing is interesting, but it's not interesting enough to stand out from the competition," Grant MacDonald, head of an AI-powered app called Bobo, told the Wall Street Journal.