Apple shares experienced a decline of approximately $25 per share following the company’s WWDC 2026 keynote. Despite this, analysts have generally increased their price targets, indicating a positive long-term outlook for the tech giant. Apple reached an all-time intraday high of $317.40 on June 8 during the Siri AI unveiling, but closed at $301.54, down 1.89%. The decline persisted, with shares closing at $290.55 by June 10, and currently trading around $292.
The drop is partly due to mixed investor reactions to Siri AI, which will not be available on iPhone and iPad in the European Union due to compliance issues, and faces delays in China due to regulatory challenges. These two markets represent about 35% of the last 12 months’ iPhone shipments. Despite this, analysts responded positively to the WWDC, with several firms raising their price targets. TD Cowen increased its target to $350, Maxim Group to $350, and Morgan Stanley to $360, all maintaining positive ratings.
JPMorgan reiterated a $325 price target with an Overweight rating, while Jefferies maintained its target at $299.88. Bernstein reiterated an Outperform rating with a $350 target, and UBS kept a Neutral rating with a $296 target. Maxim Group increased its fiscal 2027 projections, expecting AI product improvements to boost both services and hardware sales.
The post-WWDC selloff is seen as a typical “buy-the-rumor, sell-the-news” scenario, with Apple’s second-quarter revenue of $111.2 billion and a $31 billion services record remaining unaffected by the announcements. The upcoming September iPhone event will be a significant test for investors and the first keynote under the new CEO, John Ternus.
