Key insights
- Apple's upcoming WWDC event is anticipated to feature significant AI advancements, particularly a revamped Siri, which could drive a notable stock movement of up to 3%. Analysts are largely bullish, with some seeing the event as a pivotal moment for monetizing AI efforts and potentially pushing AAPL to new highs. The stock's performance hinges on the successful integration and rollout of these new AI features, building on recent gains fueled by strong tech sector earnings.
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Apple has a big week ahead, with the iPhone maker expected to reveal new AI features at its annual Worldwide Developers Conference that could have a meaningful impact on its stock.
Apple (AAPL) shares are seen swinging up to about 3% by the end of the week following the highly anticipated event, which kicks off with a keynote at 1 p.m. ET Monday.1 A move of that size from Friday's close could see the tech giant's stock rise to a fresh high above $317, topping Wednesday's record, or drag it back below $298.
The stock has climbed about 13% since the start of the year, amid a broader rally as strong earnings reports from Apple and other big tech companies fueled enthusiasm for the sector.
A revamped Siri and clearer timelines for when new AI features will be released could boost Apple's stock after a series of delays have weighed on shares.
Analysts have said recently that they expect a redesigned, AI-enhanced Siri to be the biggest announcement at WWDC, after Apple initially unveiled the concept back in 2024 and delayed its release multiple times. Apple is expected to introduce the more capable Siri, along with a potential standalone Siri chatbot app, at the event.
Bullish analysts at Wedbush, who have a Street-high target for the stock at $400, wrote this week that they see the event as a "pivotal moment" for Apple that will allow the company to better monetize its AI efforts.2
Analysts are largely bullish on Apple ahead of the event, with five of the seven analysts with current ratings tracked by Visible Alpha calling the stock a "buy," along with one neutral and one "sell" rating. Their mean price target just under $328 would suggest upside of about 7% from Friday's close.