Citi reaffirms its $315 price target for Apple as the company prepares for a pivotal AI-driven Siri upgrade at WWDC.
Apple enters its annual Worldwide Developers Conference on June 8 with a 15% year-to-date stock gain and record $31 billion services revenue in the March quarter. Citi analyst Atif Malik highlights the integration of a revamped Siri as the key focus, emphasizing potential autonomous agent capabilities for multi-step tasks like reservations and travel logistics.
Wall Street has debated Apple’s AI positioning for months, with WWDC seen as a critical test. Malik expects Siri to evolve beyond voice commands, functioning more like OpenAI’s ChatGPT across Apple’s ecosystem. The firm maintains its Buy rating and $315 price target ahead of the event.
The conference will assess whether Apple can demonstrate AI workflows that rival competitors, a factor Citi views as pivotal for long-term growth.