Apple shares fall after WWDC 2026, but analysts raise price targets

This week, Apple (AAPL) shares lost about $25 per share following the annual Worldwide Developers Conference (WWDC). Despite the negative short-term market reaction, leading Wall Street analysts remain optimistic and are actively raising their price targets on the company's stock.

Trading dynamics

On June 8, the day of the main keynote, Apple shares reached an intraday all-time high of around $317.40. However, a correction soon began. By the close of trading that same day, the quotes had fallen to $301.54 (-1.89%). The decline continued over the following days, and by June 10, the price had dropped to approximately $290.55. At the time of writing, the shares are trading around $292.

Reasons for the correction

The main disappointment for investors was news about delays in the launch of the new Siri AI. The feature will not be available in the European Union due to regulatory restrictions, and its rollout in China has also been postponed. According to Morgan Stanley estimates, these two markets together account for about 35% of iPhone sales over the last 12 months.

Analyst optimism

The professional investment community's reaction to WWDC remained largely positive. Several major firms raised their price targets on Apple shares:

• TD Cowen — from $335 to $350
• Maxim Group — from $310 to $350
• Morgan Stanley — to $360

Most analysts maintained "Buy" or "Overweight" ratings. JPMorgan reaffirmed Overweight with a $325 target, Bernstein maintained Outperform with $350, while UBS kept Neutral with a $296 target.

Maxim Group analysts raised their revenue forecasts for fiscal year 2027, expecting that improvements in AI-powered products will become an important growth driver in both services and hardware.

What's next

Experts describe the current decline as a classic "buy the rumor, sell the news" reaction. The company's fundamental indicators remain strong: in the second quarter, Apple reported revenue of $111.2 billion and a record $31 billion in the services segment.

The next important event for investors will be the September launch of the new iPhone — the first under the leadership of new CEO John Ternus.

In brief

Apple shares fell after WWDC 2026 due to concerns over delays in the launch of Siri AI in key regions. Nevertheless, Wall Street analysts remain optimistic and are raising price targets, expecting long-term growth driven by the development of AI initiatives. Most experts recommend buying the company's stock, viewing the current drop as temporary.