7 Apple Analysts Mixed On WWDC 2024: iPhone Upgrade Cycle Coming, But When?
Portfolio Pulse from Chris Katje
Apple's WWDC 2024 event received mixed reactions from analysts. Key highlights included new features for iPads and iPhones, a deeper push into AI, and a partnership with OpenAI. Analysts' ratings varied from Buy to Neutral, with price targets ranging from $196 to $230. Some analysts were disappointed with the event, while others saw potential for an iPhone upgrade cycle.
June 11, 2024 | 3:26 pm
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NEUTRAL IMPACT
Apple's WWDC 2024 event received mixed reviews from analysts. Key highlights included new features for iPads and iPhones, a deeper push into AI, and a partnership with OpenAI. Analysts' ratings varied from Buy to Neutral, with price targets ranging from $196 to $230.
The mixed analyst ratings and varied price targets indicate uncertainty about the short-term impact on Apple's stock. While some analysts see potential for an iPhone upgrade cycle, others were disappointed with the event's announcements.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
RBC Capital analyst Brad Erickson noted that Apple's partnership with OpenAI could be negative for Alphabet, as it may reduce Google's influence within Apple's ecosystem.
Apple's partnership with OpenAI could potentially reduce Google's influence within Apple's ecosystem, which may negatively impact Alphabet's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
RBC Capital analyst Brad Erickson noted that Apple's partnership with OpenAI could be negative for Alphabet, as it may reduce Google's influence within Apple's ecosystem.
Apple's partnership with OpenAI could potentially reduce Google's influence within Apple's ecosystem, which may negatively impact Alphabet's stock in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50