Apple's WWDC Was a 'Yawner,' Wedbush Says, But Analysts Are Still Bullish

Apple (AAPL) is late to the artificial intelligence party. That’s what Wedbush analysts said after the company’s Worldwide Developers Conference keynote didn’t include a specific timeline for AI-enhanced Siri features that investors had been waiting for.

The iPhone maker “is playing it safe and close to the vest after the missteps last year,” Wedbush wrote, referencing an ambitious presentation at WWDC 2024 that showcased a supercharged Siri assistant handling more complex tasks using AI. Apple Senior Vice President of Software Engineering Craig Federighi said during Monday’s keynote that there’s more work to do, and that more information will be released in the coming year. 

Still, Apple did plant the seeds of its AI strategy by releasing a software development kit that will allow developers to build apps using the large language models within Apple Intelligence, Wedbush noted. The WWDC keynote showcased “slow but steady improvements to strategy,” the analysts said. “But overall [it was] a yawner.” 

Goldman Sachs analysts said that while the lack of Siri updates “may have been underwhelming,” incremental improvements such as the new “liquid glass” iOS redesign and features like AI-powered live translation should help keep users from switching to competitors’ hardware.

Wedbush and Goldman maintained bullish price targets of $270 and $253, respectively. Meanwhile, UBS reiterated its $210 target, and JPMorgan stayed at $240. Apple shares lost about 1% Monday after the WWDC keynote, and were little changed in recent trading Tuesday near $203.

Shares of Apple have struggled this year, falling by roughly a fifth in 2025 amid concerns over the impact of tariffs and fears Apple could be falling behind in the AI race. Last month, ChatGPT maker OpenAI took what could be seen as a step toward competing with Apple in offering AI devices with plans to acquire io, an AI startup launched by former Apple design head Jony Ive.