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Bullish +75

Melius Raises Apple (AAPL) Price Target Ahead of WWDC

AI-generated analysis

📈 Melius raised its price target on Apple (AAPL) from $355 to $385 ahead of the Worldwide Developers Conference.

🤖 The analyst firm believes Apple may be on the brink of significant AI growth and innovation.

🗣️ Melius highlighted growing user comfort with voice commands as a key trend benefiting Apple.

🧠 An upgraded Siri could become a standalone tool, potentially replacing use cases for apps like ChatGPT.

🤖 The firm described this potential shift as an "agent-style interface" that could make Apple's ecosystem more unique.

💻 Melius noted Apple's unique advantage of having both hardware and software under one trusted setup.

📅 This update comes ahead of WWDC, scheduled to take place from June 8 to June 12.

💰 According to the research firm, Apple could reach approximately $613 billion in total revenue by fiscal 2028.

⚠️ Despite the bullish outlook on AAPL, Melius acknowledges that some AI stocks may offer higher returns in a shorter timeframe.

📊 Apple is one of the 12 most bought stocks by hedge funds in Q1 2026 according to the article's context.

Bullish Signals
  • Melius raised its price target on Apple Inc. (NASDAQ: AAPL) from $355 to $385 ahead of the Worldwide Developers Conference.
  • Analysts believe Apple may be on the brink of significant AI growth, potentially offering a unique 'agent-style interface' that could replace standalone apps like ChatGPT.
  • Apple's integrated hardware and software ecosystem is viewed as a key advantage that will become increasingly important as AI systems grow more complex.
  • The firm projects Apple could reach approximately $613 billion in total revenue by fiscal 2028.
Risk Factors
  • The article explicitly states that while acknowledging AAPL's risk and potential, the firm believes other AI stocks hold greater promise for delivering higher returns within a shorter time frame.
  • Melius suggests AAPL may have less upside potential compared to other AI stocks, noting one alternative has '10,000% upside potential'.
Full Analysis
Melius Research raised its price target for Apple Inc. (AAPL) from $355 to $385 ahead of the company's Worldwide Developers Conference, which is scheduled to run from June 8 to June 12. The firm noted that Apple "may be on the brink of some real AI sizzle," citing growing user comfort with voice commands and the potential for an upgraded Siri to function as a standalone tool that could replace certain use cases of apps like ChatGPT. Melius described this potential development as an "agent-style interface" that could make Apple's ecosystem more unique and spark fresh excitement among developers. The research firm highlighted Apple's competitive advantage in having both hardware and software under one trusted setup, a trait it believes will become increasingly important as AI systems grow more complex and independent. Based on these factors, Melius projects that Apple could reach approximately $613 billion in total revenue by fiscal 2028. The analyst update comes as the company prepares to unveil new software updates, AI features, and advancements at its annual event.