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On Tuesday, Goldman Sachs reiterated its Buy rating on Apple Inc. (NASDAQ:AAPL) with a steady price target of $253.00. The tech giant, currently valued at over $3 trillion, trades above its InvestingPro Fair Value, suggesting a premium valuation. Following the World Wide Developers Conference (WWDC) on Monday, Apple’s stock saw a slight decline of approximately 1%, a less severe drop compared to the 2% decrease after last year’s WWDC event.
The investment firm noted Apple’s announcements at WWDC25, which included design improvements and new features for its operating systems and first-party apps. However, the company did not showcase significant advancements in Apple Intelligence. Apple confirmed that the enhancements to make Siri more personal are postponed to the next year. This contrasts with WWDC24, where Siri was a highlight, mentioned 54 times, but was barely featured in the latest conference. The company maintains a strong financial position with a "GOOD" overall health score according to InvestingPro, supported by robust revenue growth of 4.91% over the last twelve months.
Despite this, Goldman Sachs analysts believe Apple remains the leader in consumer devices, citing new features intended to improve user experience. These features include a new user interface named "Liquid Glass," AI-driven capabilities such as live translation in Messages, Voice, and FaceTime, enhanced Visual Intelligence, and various quality-of-life features. These additions encompass Call Screening, Hold Assist, updates to Group Chat like polls and typing indicators, and a new Games App.
The report also mentioned that investor expectations were appropriately low ahead of WWDC25. Nonetheless, Goldman Sachs anticipates an upcoming improvement in the iPhone replacement cycle, aligning with the introduction of new iPhone models in the years 2025, 2026, and 2027. This outlook supports the firm’s continued endorsement of Apple’s stock at its current price target.
In other recent news, Apple has been the subject of several analyst reports following its Worldwide Developers Conference (WWDC). Citi analysts maintained a Buy rating with a $240 price target, praising Apple’s software design overhaul and enhancements to Apple Intelligence, despite noting a delay in the Siri update to 2026. UBS, however, kept a Neutral rating with a $210 target, indicating that the software updates are unlikely to significantly boost iPhone demand. Raymond (NSE:RYMD) James reiterated an Outperform rating with a $230 target, highlighting the introduction of on-device AI capabilities and the potential for increased Services revenue. Evercore ISI also maintained an Outperform rating, setting a $250 target and pointing to Apple’s strategy of incremental updates, including the integration of AI features into apps. Additionally, Citi added Skyworks Solutions (NASDAQ:SWKS) and Qorvo (NASDAQ:QRVO) to its catalyst watch, citing potential positive impacts from Apple’s supply chain, driven by iPhone demand. These developments reflect a range of perspectives on Apple’s potential growth and innovation trajectory.
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