100 Million Siri Users Paying $20 A Month Could Generate $24 Billion A Year For Apple, Analyst Says: 'That's a Low-End Example'

Apple Inc. (NASDAQ) could unlock a multibillion-dollar opportunity by turning Siri into a premium artificial intelligence assistant, according to Deepwater Asset Management’s managing partners. Apple Could Generate $24 Billion From Siri Subscriptions On Tuesday, Gene Munster highlighted the opportunity in a post on X, arguing that a more capable Siri could significantly boost Apple’s services business. He also posted a clip alongside his post, in which Munster discussed the potential adoption of personalized AI with Doug Clinton and asked what percentage of Apple’s iPhone user base might realistically pay for such a service within five years. “If Apple gets Siri right,” Munster wrote, the assistant could become a “high-margin annual subscription” that generates more revenue than investors might anticipate. The managing partners estimate that 100 million subscribers paying $20 per month could generate about $24 billion annually, roughly 6% of Apple’s revenue. Munster described the scenario as a “low end example just for scale,” adding that the number of paying users could be substantially higher given the growing usefulness of personal AI assistants. If Apple gets Siri right, it can be a high-margin annual subscription that boosts services. Maybe even bigger than investors think. 100M paying users at $20 a month is a ~$24B a year business, about 6% of revenue. And that’s a low end example just for scale. I think there could… pic.twitter.com/uIi7EnVOL8— Gene Munster (@munster_gene) October 13, 2026 In an earlier post, Munster warned that Apple could miss out on the AI subscription opportunity if users become accustomed to Meta Platforms Inc.’s (NASDAQ:META) Muse or Space Exploration Technologies Corp.’s (NASDAQ:SPCX) Grokbot first. Read Also: Google, Amazon and Apple Are in AI's Inner Circle. These 15 Domains Made the Cut What It Means for Apple Investors A paid AI assistant could give Apple another recurring revenue stream beyond its hardware business, potentially strengthening its services segment. However, the projections depend on Apple delivering a substantially more capable Siri and convincing millions of users to pay. Apple’s market capitalization briefly crossed the $5 trillion mark for the fifth time on Monday but failed to hold above the threshold, repeating a pattern seen twice in July and twice in September, the Wall Street Journal reported, citing Dow Jones Market Data. Apple rolled out a redesigned Siri AI with iOS 27 last month, powered by customized Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Gemini models. However, analysts say the assistant still falls short of Meta’s Muse in key areas, including persistent background tasks, support for third-party actions and integrated payment capabilities. The development comes as Apple on Tuesday unveiled a range of smart home products, including an iPad-like device called HomeView, betting that an AI-enhanced Siri can help it gain ground in the fiercely competitive connected home market. Price Action: Apple shares closed Tuesday at $341.27 after reaching a record high of $348.15 during the session. The stock has gained 25.93% year-to-date, according to Benzinga Pro. According to Benzinga Edge Stock Rankings, Apple ranks in the 97th percentile for Quality, with positive price trends across the short, medium and long term. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Read Also: Apple Stock Hits All-Time Highs — And There Could Be Good News About iPhone Duo Photo Courtesy: Piotr Swat on Shutterstock.com