JPMorgan Reiterates Overweight Rating on Apple (AAPL)

JPMorgan analyst Samik Chatterjee reiterated an Overweight rating and $325.00 price target on Apple (NASDAQ: AAPL)

The analyst comments: “Apple's WWDC 2026 keynote marked Tim Cook's last event as CEO and delivered to expectations set for broader AI capabilities, including the much-awaited completely revamped Siri, which is now expected to be available to US consumers in Fall 2026. At the heart of the event was a material refresh to Siri and Apple Intelligence, including an overhaul of Siri's architecture, now powered by nextgeneration Apple Foundation Models developed in partnership with Google's Gemini. The new Siri, called Siri AI, is anchored by an orchestrator spanning across personal context, world knowledge, app actions, and on-screen awareness, and in combination with Apple Intelligence, powers a broad set of new experiences and features. While the Apple Foundational Model capabilities embedded in Siri AI are largely in line with expectations, we believe the differentiation will be relative to integration with the wide swath of native apps (and third-party apps) and system actions to enable personal context to be turned into app actions. For the initial roll-out, Siri AI will be launched in English only, and will not be available on iOS and iPadOS in the EU and will not be available at all in China. While the fall launch of Siri AI in the US will be a significant positive for the holiday sales season, the future roll-out to other geographies as well as other languages will be a critical watchpoint for investors going forward. The announcements also highlighted a potential monetization path with serverdependent capabilities (e.g. image generation) carrying daily usage caps, and elevated limits for premium users to be bundled into most iCloud+ tiers, likely supporting incremental adoption of iCloud, further driving tailwinds to Services growth.”

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $301.54 yesterday.

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