'Lackluster' WWDC Ahead: Apple Stock (NASDAQ:AAPL) Gains as Strategy Questioned
Consumer electronics giant Apple (AAPL) has been having a bit of a rough time of late, down from the juggernaut it once was, but still very much a part of most people's lives. And with the Worldwide Developers Conference (WWDC) coming up on Monday, difficult questions about Apple's future are being asked. And so far, investors like what they hear, if only somewhat, as Apple shares notched up fractionally in Friday afternoon's trading.
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Apple Intelligence has not exactly reached the levels that Apple was hoping for, and this after a year in play. Many of Apple's competitors in this field have made substantial advances, but Apple remains a technological laggard. And with Eddy Cue, Apple's head of services, noting that users '…may not need an iPhone 10 years from now,' that represented a combination of events that definitely did not look good for Apple.
But with the WWDC about to fire up in earnest, the focus is shifting to Apple's AI plans, and what it is looking to do now. With that very real possibility that Apple's hardware dominance could be on thin ice, hearing Apple's next moves in the market will be vital to ensuring that shareholders remain interested. However, Samik Chatterjee —who has a five-star rating on TipRanks—with JPMorgan noted that, right now, investors are expecting a 'lackluster' event.
What Should Appear
The news is difficult enough for Apple right now, but what will it likely roll out at the big show? Reports suggest that a new naming convention for iOS will emerge. While iOS was previously on iOS 18, it will not go to iOS 19. Rather, it will instead go to iOS 26, reports note, as the new convention requires the iOS be the year instead of the version number.
Apple is also reportedly planning a major shakeup in the way its software looks. Some figure that it will change to better reflect the Vision Pro's operating system, though there are certain doubts as to how that will work, exactly. Apple may also uncase another app for social gaming, as the Game Center could use a bit of a replacement. But one thing that will likely not show up at WWDC, reports note, is any kind of new hardware. And if this is the case, that 'lackluster' projection of Chatterjee's might be dead-on.
Is Apple a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 16 Buys, nine Holds and four Sells assigned in the past three months, as indicated by the graphic below. After a 1.9% rally in its share price over the past year, the average AAPL price target of $228.65 per share implies 12.83% upside potential.
See more AAPL analyst ratings
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