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AAPL Stock Slides Following WWDC, But Analysts Broadly Raise Targets

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Apple shares have lost roughly $25 per share this week following the company's WWDC 2026 keynote, though a wave of upward analyst price target revisions suggests Wall Street's longer-term view of Apple remains constructive.

Apple-Logo-Cash-Feature-Blue.jpg

According to Tech Times, AAPL hit 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 slide continued over the following two days, with shares falling to around $290.55 by the close of June 10. The stock is trading around $292 as of writing.

The drop has been attributed in part to mixed investor reaction to Siri AI. Siri AI will not launch on iPhone and iPad in the European Union due to compliance issues, and the feature faces a similarly delayed rollout in China due to regulatory hurdles. According to Yahoo Finance, Morgan Stanley estimates those two excluded markets together account for roughly 35% of trailing 12-month iPhone shipments.

The analyst community's response to this year's WWDC has been broadly positive, with several firms raising their price targets. TheStreet reports that TD Cowen raised its Apple price target to $350 from $335, Maxim Group raised its target to $350 from $310, and Morgan Stanley raised its target to $360, all maintaining Buy or Overweight ratings.

JPMorgan reiterated its Overweight rating with a $325 price target, while Jefferies held its target at $299.88. According to Investing.com, Bernstein reiterated an Outperform rating and a $350 price target, while UBS maintained a Neutral rating with a $296 target. Maxim Group increased its fiscal 2027 projections on the expectation that improvements in AI-related products will serve as a catalyst for both services and hardware sales.

TradingKey characterized the post-WWDC selloff as a classic "buy-the-rumor, sell-the-news" reaction, noting that Apple's second quarter results of $111.2 billion in revenue and a $31 billion services all-time high remain unchanged by any of the WWDC announcements.

The September iPhone event will be the next major test for investors and the first keynote under incoming CEO John Ternus.

Article Link: AAPL Stock Slides Following WWDC, But Analysts Broadly Raise Targets
 
Article Link
https://www.macrumors.com/2026/06/11/aapl-stock-slides-following-wwdc/
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Reactions: Z-4195 and mudflap
Put AAPL in comparison with other stocks and it looks about the same as some broader tech market stocks (plus VOO in there for general comparison) so far this week. This is only 3 days of closing prices because that's all we've had. Yes, AAPL dropped more than some others (relative %) on June 9, but ended up right in the mix with the broader NASDAQ (QQQ), and some related stocks.

Edit: Fixed chart.
june8_AAPL+stocks.png
 
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Reactions: latourfl, DelayedGratificationGene, centauratlas and 6 others
The article suggests it dropped $25 a share from what it had regularly been trading at, but it only hit $317 for a pretty short time. It's hovered around $275-285 most commonly before that. Overall it's still up a quite decent amount, it just hasn't hit that one brief peak share price again.
 
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Reactions: DelayedGratificationGene, SFjohn, locovaca and 2 others
I think it was a very solid WWDC this year. Nothing earth shattering, but a lot of small things that should really stack up for end users and developers. My only concern going forward is that Tim Cook is leaving and being replaced by a relatively unknown quantity.
 
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I believe that the market is misunderstanding AAPL's advantages here: namely that with the M series in (most) Macs (and some iPads) and each generation of new A series chips in iPhones etc, they can do much more on-device processing. And that will continue to grow year after year. So yes, while Apple will need some large server farms and is using Google for that, they have dodged the bullet of having to spend as many (hundreds of) billions as others are. The people buying the new iPhones etc will be footing some of the bill. Not to mention the purported privacy benefits.
 
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This is pretty much the last place anyone should go for investing advice, but it is still worth pointing out that “sell-offs" are a fiction. They conjure up an image of worthless stock certificates littering the trading floor. In reality, every share sold is also a share bought. Knowing this helps with understanding how markets work, and understanding promotes rationality.
 
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