Apple (AAPL) Stock: Over 200 Jobs Cut as Company Shifts to AI and Smart Glasses
TLDR
- Apple is cutting over 200 jobs across its Siri, Vision Pro, and Intelligent Systems Experience teams.
- Around 100 roles were cut from the Vision Pro department, including gaming and immersive video teams.
- Another 100 jobs were cut from Siri and related software teams due to an AI-driven architectural change.
- Resources are being redirected toward AI-powered smart glasses, expected around 2027.
- Wall Street holds a Moderate Buy on AAPL, with an average price target of $336.63, implying 9% upside.
Apple is laying off more than 200 employees across its Siri, Vision Pro, and Intelligent Systems Experience groups, Bloomberg reported. The cuts reflect a broader internal reshuffle as the company realigns engineering resources toward AI development and upcoming hardware.
AAPL stock was down 0.63% at the time of reporting.
About 100 of the cuts came from the Vision Pro department. Apple is winding down its in-house gaming team for the headset and scaling back its immersive video group. Each episode of immersive video costs millions of dollars to produce, and with a limited user base, those costs have become hard to justify.
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