Following its Worldwide Developers Conference, Apple's reveal of its new "Apple Intelligence" platform and a revamped Siri has drawn mixed reviews from analysts. Barclays maintained its "Underweight" rating with a $253 price target, arguing the AI updates are incremental rather than transformative.
Analysts at the firm believe the new features are not compelling enough to spark a major iPhone upgrade cycle and questioned the company's AI monetization strategy. Other firms, including UBS and Needham, also expressed a cautious outlook, doubting the announcements would materially drive demand. The lukewarm reception contributed to Apple's stock price falling nearly 2% after an initial surge during the event.