Dan Ives Has a $400 Price Target on Apple. After WWDC, Here's Whether He's Right.
Apple stock has been flat over the last month.
Dan Ives Has a $400 Price Target on Apple. After WWDC, Here's Whether He's Right.
Overview
Wedbush analyst Dan Ives is one of the most prominent Apple (NASDAQ: AAPL) stock bulls on Wall Street. He has often cited the company's annual iPhone upgrade cycle as a reason to invest in Apple stock. He regularly raises his price target for Apple and currently has one of the most optimistic projections on the Street, with a $400 price target.
But Apple's recent Worldwide Developers Conference (WWDC) failed to give the stock a boost. The annual event is often where Apple showcases its latest products or long-awaited upgrades, and this year the company used WWDC to introduce a more advanced version of its digital personal assistant, Siri. The new Siri will incorporate artificial intelligence (AI) to answer questions about content on users' screens, search across apps, and get real-time information from websites. It is Apple's attempt to get back into the AI fray after losing precious ground to Amazon, Alphabet, OpenAI, Anthropic, and others.
Details
However, Apple's stock price fell more than 5% the week of WWDC, and has been treading water for the last month.
Source
Originally published at www.fool.com.
