Apple Investors Are Tired of AI Promises, Want Tangible Progress

Apple Inc. investors are losing patience with the company’s talk about becoming a more formidable presence in artificial intelligence and want to start seeing some results.

“There’s a bit of fatigue with Apple and AI,” said Tim Chubb, chief investment officer at Girard, a Univest Wealth Division, which owns the stock in an underweight position. “It’s hard to extend them the same benefit of the doubt we used to since there have been so many delays.”

Wall Street was hoping the iPhone maker would come out strong at its annual Worldwide Developers Conference last week, but its presentations were ...