Citi says risk-reward in Apple stock ’looks attractive’

Published 01/04/2025, 13:40
© Reuters.

Investing.com -- Apple Inc (NASDAQ:AAPL) on Monday released the iOS 18.4 update, which expanded Apple Intelligence to include several new languages, including Chinese, and became available in the European Union.

As expected, the latest iOS version did not feature Siri, aligning with previous announcements about its delay.

In response to the delay, Apple made significant changes within its executive team. Mike Rockwell, who has been leading the Vision Pro team since 2015, was appointed to oversee Siri’s development.

Rockwell, known for his technical expertise, will now report directly to Apple’s software chief, Craig Federighi. This move comes after the decision to reassign Siri from AI chief John Giannandrea’s responsibilities.

Analysts at Citi believe that Apple may use the next earnings call to recalibrate expectations for Siri’s software. They also anticipate that the company will address this topic before the Worldwide Developers Conference (WWDC) scheduled for June 9th.

“AAPL stock price is getting closer to our bear case following the Siri delay sell-off and the risk reward looks attractive,” analysts led by Atif Malik said, reiterating a Buy rating on Apple shares.

Among the key new features of the iOS 18.4 update are priority notifications powered by Apple Intelligence. These alerts surface important messages at the top of the Home Screen to grab users’ immediate attention.

The update also broadens Apple Intelligence language support to include French, German, Italian, Brazilian Portuguese, Spanish, Japanese, Korean, and simplified Chinese, along with localized English for Singapore and India.

Moreover, EU users now gain access to Apple Intelligence features on iPhone and iPad.

Additional updates include a new recipes section for News Plus subscribers and enhancements to the Photos app. Similar updates are also available with iPadOS 18.4 and macOS Sequoia 15.4.

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