Generative AI is seen as a potential source of immense profit and innovation for Apple. Due to the perceived stagnation of the iPhone, Wall Street is betting on generative AI tools to make the product more appealing and encourage upgrades. Apple's slower embrace of AI compared to other tech giants like Amazon, Microsoft, and Google may be attributed to their secretive nature, which hinders their ability to attract and retain top AI talent. The recent revamp of Siri using generative AI aims to make the virtual assistant more conversational, able to handle complex queries, and even respond to typed commands, demonstrating Apple's efforts to integrate AI into its products.