Apple Analysts Split on WWDC 2024: Uncertainty Surrounding iPhone Upgrade Cycle Timing - Alphabet (NASDAQ:GOOG) and Apple (NASDAQ:AAPL)

Tech & AI | June 12, 2024, 3:53 a.m.

Apple Inc. launched its Worldwide Developers Conference (WWDC) with a focus on new features for iPads and iPhones, and a deeper integration of artificial intelligence into its products. Analysts shared their insights post-event, with varying opinions on Apple's performance. Needham analyst Laura Martin expressed disappointment, questioning the impact on consumer purchases. On the other hand, JPMorgan analyst Samik Chatterjee noted "enough enhancements" for iPhone upgrades. RBC Capital analyst Brad Erickson suggested that Apple's collaboration with OpenAI could pose a threat to competitors like Alphabet Inc. Rosenblatt analyst Barton Crockett highlighted the efforts to boost iPhone upgrades with Apple Intelligence. Citi analyst Atif Malik praised the event as the best ever, citing increased confidence in future iPhone models. KeyBanc analyst Brandon Nispel viewed the WWDC as underwhelming, while Bank of America analyst Wamsi Mohan emphasized the potential of Apple Intelligence and the OpenAI partnership. As Apple's stock price surged to new highs, the impact of these developments on the tech giant's future remains to be seen.