Apple shares lost about $25 per share this week following the company’s WWDC 2026 keynote, although a wave of upward revisions to analysts’ price targets suggests Wall Street’s long-term view on Apple remains constructive.
According to Technical timesAAPL reached an all-time intraday high of around $317.40 on June 8 during the unveiling of Siri AI, before reversing to close at $301.54, down 1.89%. The decline continued over the next two days, with shares falling to around $290.55 as of the June 10 close. The stock is trading around $292 at the time of writing.
The decline was attributed in part to investors’ mixed reaction to AI Siri. Siri AI will not launch on iPhone and iPad in the European Union due to compliance concerns, and the feature faces a similarly delayed rollout in China due to regulatory hurdles. According to Yahoo FinanceMorgan Stanley estimates that these two excluded markets together account for about 35% of iPhone shipments over the past 12 months.
Reaction from the analyst community to this year’s WWDC was generally positive, with several companies raising their price targets. The street reports that TD Cowen increased its Apple price target from $335 to $350, Maxim Group increased its target from $350 to $310, and Morgan Stanley increased its target to $360, all maintaining their Buy or Overweight ratings.
JPMorgan reiterated its overweight rating with a price target of $325, while Jefferies maintained its target at $299.88. According to Investir.comBernstein reiterated an outperform rating and a $350 price target, while UBS maintained a neutral rating with a $296 target. Maxim Group increased its projections for fiscal 2027 on hopes that AI-related product improvements will serve as a catalyst for service and hardware sales.
Trading key called the post-WWDC selloff a classic “buy the rumor, sell the news” reaction, noting that Apple’s second-quarter results of $111.2 billion in revenue and a record $31 billion for services remain unchanged by any of the WWDC announcements.
The September iPhone event will be the next major test for investors and the first speech from new CEO John Ternus.
