New York, June 15, 2026, 11:47 AM EDT
- Goldman Sachs is sticking with its Buy rating on Apple after WWDC. The bank held its price target steady at $340.
- Siri AI is the main driver for the Apple bull case now, but major risks remain with a limited rollout in the EU, China, and on older devices.
- AAPL added around 2.1%, closing Monday at $297.31.
Apple shares finished higher Monday. Goldman Sachs pointed to clearer messaging from WWDC 2026 on Siri AI, possible monetization of Apple Intelligence, and hardware updates. AAPL was last at $297.31, up $6.18, putting Apple’s market cap near $4.38 trillion.
Goldman Sachs analyst Michael Ng kept a Buy on Apple and stuck with his 12-month target of $340, TheStreet said. That level is 12.8% above the $301.54 price Goldman used. Ng called WWDC’s reveals “largely in line with expectations.” Still, Goldman said the event firmed up the timeline for Siri AI features, added specifics on Apple Intelligence monetization, and could start a new product cycle focused on high-end AI hardware. TheStreet
Apple is counting on its new Siri AI to convince users to buy new hardware and spend more on services. The company said the Siri AI rollout starts in beta, later this year, on eligible devices and will be in English. A few Apple Intelligence tools will face daily caps, but broader features open up for most iCloud+ customers. “A profoundly more intelligent, knowledgeable, and capable” assistant, said Craig Federighi, senior VP of software engineering. Apple
JPMorgan’s Samik Chatterjee came off CNBC’s Squawk Box with a bullish tone, posting on LinkedIn that Apple’s announcements “reinforced the accelerating pace of AI adoption.” He mentioned Apple’s push on consumer experience too. Simply Wall St, in a June 13 update, said Apple’s analyst target is now $350, up from $310, as analysts called out the new Siri, Apple’s wider AI plans, and new valuation points. LinkedIn Simply Wall St
Apple faces new regulatory delays. The company said it’s holding back Siri AI and Apple Intelligence in China, citing regulatory problems. Europe will miss out on Siri AI too when iOS, iPadOS, and watchOS launch the features. Reuters said the EU turned down Apple’s 18-month exemption request from Digital Markets Act rules. “The decision not to roll out Siri AI in the EU is Apple’s and Apple’s only,” European Commission spokesman Thomas Regnier said. Apple Reuters
Apple’s AI push faces a hardware gap. Morgan Stanley estimates over 850 million iPhones won’t handle core Apple Intelligence tools, Reuters said, with 1.3 billion left off the new Siri upgrade. That means much of Apple’s installed base is shut out. Goldman Sachs has pointed to device upgrades to drive growth, but it’s unclear if the new AI is enough to speed up phone sales.
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