Bearish
Apple cuts over 200 jobs in Siri and Vision Pro teams amid AI shift
Apple has reportedly laid off more than 200 employees across its Siri, software engineering, and Vision Pro divisions as it shifts focus toward artificial intelligence and new hardware. Approximately 100 positions were eliminated in the Vision Pro division, with another 100 cuts in the Siri and software teams. This restructuring aims to realign resources toward AI-driven initiatives and future device development.
Key points
- Apple's stock declined by 0.67% to $309.22, underperforming the Nasdaq Composite, which gained 0.39%.
- Despite the layoffs, Apple reported strong fiscal Q3 2026 earnings, with revenue up 16% year-over-year to $109.4 billion and earnings per share at $2.02, surpassing analyst expectations.
- Jefferies downgraded Apple to 'underperform' and cut its price target to $263.66, citing the cancellation of the planned all-glass 20th-anniversary iPhone due to production issues.
Sources
- Apple reportedly lays off over 200 employees in its Siri, AI, and Vision Products groupsAppleWorld.Today · August 21, 2026
- Apple Shares Drop on High P/E, Narrow Margin to Analyst TargetTS2 Tech · August 21, 2026
- Jefferies Just Said Sell Apple (AAPL). Here’s the iPhone Feature That Got CanceledInsider Monkey · August 21, 2026
AI-generated from public news sources. Not financial advice.
