Apple stock falls after WWDC Apfelpatient

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Following the WWDC 2026 keynote, Apple's stock lost around $25 per share within just a few days. The contrast is striking: while the price initially fell, a number of analysts raised their price targets – indicating that Wall Street's long-term outlook on Apple remains constructive.

The stock market's reaction to an Apple keynote often follows a familiar pattern, and this year was no exception, with the initial decline following WWDC 2026 and its announcements of hardware and software. A noticeable pullback occurred between the record high on the day of the keynote and the share price level by midweek. At the same time, analysts' assessments paint a significantly more positive picture than the short-term price action would suggest.

From record high to pullback

On June 8, during the unveiling of the new assistant Siri AI, the stock reached an all-time high of approximately $317.40. However, the price reversed later that same day, closing at $301.54 – a decline of 1.89 percent. The downward trend continued over the following two days: By the close of trading on June 10, the stock was trading at around $290.55, and most recently, it was quoted at approximately $292.

Siri AI as a trigger for skepticism

A key reason for the subdued sentiment is the mixed investor reaction to Siri AI. The feature is not yet launching on iPhones and iPads in the European Union due to regulatory requirements, and its introduction in China is also delayed due to government hurdles. The significance of this is illustrated by an estimate from Morgan Stanley: these two excluded markets combined accounted for approximately 35 percent of iPhone shipments over the past twelve months.

Analysts raise price targets

Despite the share price decline, the overall assessment of this year's WWDC by analysts was predominantly positive, with several firms raising their price targets. TD Cowen increased its target from $335 to $350, Maxim Group from $310 to $350, and Morgan Stanley set its target at $360 – all while maintaining their buy or overweight ratings.

JPMorgan confirmed its overweight rating with a price target of $325, while Jefferies maintained its target of $299.88. Bernstein reiterated its outperform rating and a price target of $350, and UBS maintained its neutral rating with a target of $296. Maxim Group also raised its guidance for fiscal year 2027, expecting advances in AI products to boost both its services and hardware businesses.

“Buy the rumor, sell the news”

Several observers classify the sell-off after the keynote as a classic "buy the rumor, sell the news" reaction – that is, profit-taking after previously priced-in expectations were met. This is supported by a finding from the analysis: the WWDC announcements have no impact on Apple's latest financial results. In the second quarter, the company reported revenue of $111.2 billion and an all-time high of $31 billion in services revenue.

The next test will be in September

The next real indicator for investors will be the iPhone event in September. It will also be the first major keynote address under the future Apple CEO John Ternus – and thus a stage where it should become clear whether the expectations formulated after WWDC regarding Apple's AI strategy and the new hardware are justified. (Image: Shutterstock / Minh8686)

Disclaimer: No recommendation for investments

This article does not constitute financial or investment advice. The information contained herein is for journalistic and informational purposes only. Please conduct your own research or consult a financial advisor before making any investment decisions.