I'm LongbridgeAI, I can summarize articles.Apple is laying off over 200 employees in Siri, Vision Pro, and Intelligent Systems teams to refocus on AI and new devices. This restructuring aims to improve efficiency and shift resources toward AI-powered smart glasses expected around 2027, while scaling back immersive content creation due to low user adoption. Concurrently, CEO Tim Cook will step down on September 1, succeeded by John Ternus. Analysts maintain a Moderate Buy consensus with an average price target of $336.63.
Apple (AAPL) is cutting more than 200 jobs across teams tied to Siri and the Vision Pro headset as it shifts resources toward new devices and stronger AI features, Bloomberg reported. The iPhone maker is also reducing headcount in its Intelligent Systems Experience team, which helps build AI features across its devices.
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About 100 roles were cut from the Vision Pro department. Apple is winding down a Vision Pro team focused on making games for the headset and trimming the group that makes immersive video for the device. Another 100 jobs were cut from Siri and software teams.
While the changes will reportedly remove some roles, it will also create new ones. The affected employees will be able to apply for other jobs inside the company.
Apple Shifts Focus Toward AI and Smart Glasses
It is worth noting that the job cuts are part of a wider reshuffle across Apple's main hardware and software groups, aimed at improving efficiency and better matching customer usage patterns.
The cuts to the Siri and Intelligent Systems Experience teams are tied to a shift toward a new technical setup for an upgraded, AI‑powered version of the assistant. This change requires different engineering skills. In the Vision Pro group, Apple is scaling back its in‑house immersive content creation as the current user base is too small, making millions of dollars in production costs difficult to sustain.
At the same time, resources are moving heavily toward AI‑enabled smart glasses, expected around 2027. These glasses will use cameras, Siri, and visual intelligence tools instead of a full, power‑hungry AR display.
Apple Nears CEO Transition
Apple is getting closer to its CEO handoff. Tim Cook will step down on September 1 to become Executive Chairman, and John Ternus, Apple's Senior VP of Hardware Engineering, will move into the CEO role.
Ahead of this change, BofA analyst Wamsi Mohan said that under Cook, Apple built huge value by growing its device base, boosting services, tightening privacy, and rolling out steady, scaled innovation. He expects incoming Ternus to keep this core plan in place, with more gains coming from on‑device AI, new products, strong capital returns, and fresh markets. Mohan kept his Buy rating and $380 price target on AAPL stock.
Is AAPL Stock a Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 16 Buys, 11 Holds, and four Sells assigned in the past three months. Further, the average Apple price target of $336.63 per share implies 8.68% upside potential.