AAPL
WWDC’s pressure test
Apple’s about to walk onto the WWDC stage with a lot riding on its AI story, and Wedbush analyst Dan Ives is basically telling investors to expect confetti. He kept his Outperform rating on Apple and left his $400 price target untouched, arguing that this could be the moment Apple stops talking around AI and starts making it look useful.
Siri, but make it profitable
The big tease here is Apple’s long-rumored AI upgrade for Siri, including talk of a standalone Siri app and a broader push to make the developer ecosystem do some of the heavy lifting. That’s the kind of move investors love because it hints at a future where Apple isn’t just selling devices—it’s squeezing more money out of the software and services layer too.
Ives thinks the AI piece could be worth real cash, not just vibes:
- roughly $15 billion in annual services revenue eventually
- as much as $75 to $100 per share in upside that may not be fully baked into estimates
Why Alphabet shows up in the story
Alphabet’s Gemini gets a cameo here because it’s reportedly selected to help power the AI version of Siri. That doesn’t make Google the star of the show, but it does mean Apple’s AI ambitions may not be a solo act. If the integration clicks, it could be one of those weird tech moments where competitors become temporary co-stars.
Big picture
This is still a promise, not proof. But for Apple, WWDC could be the difference between “nice keynote” and “oh, this actually changes the narrative.” If the company delivers something concrete on AI, investors may finally start pricing in a new chapter instead of just applauding the old one.