Valued at a market capitalization of more than $3 trillion, Apple (AAPL) is among the largest companies globally. The iPhone maker benefits from a widening ecosystem of connected devices and brand recognition, which has allowed AAPL stock to deliver outsized gains to shareholders over the last two decades. 

Apple continues to introduce new devices each year, allowing the hardware giant to attract new buyers at a steady pace. The next big-ticket event for Apple is the upcoming Worldwide Developers Conference 2025, which will take place on June 9. 

The event is expected to focus primarily on artificial intelligence, with Apple Intelligence taking center stage as it expands its AI capabilities across all platforms. The keynote is expected to unveil software updates, including iOS 19, which is expected to feature a design overhaul, enhanced Siri functionality, and expanded Apple Intelligence features. iPadOS 19 will bring similar improvements optimized for tablets, while macOS 16 will introduce new AI-powered features and potentially be named after California landmarks like Rincon or Skyline.

Apple’s new software development kit, which allows third-party developers to build applications using Apple’s AI models for the first time, will be a groundbreaking announcement. This move aims to replicate the App Store’s early success by making Apple’s operating systems the largest AI software platforms.

Additional updates include visionOS 3 for Vision Pro, watchOS 12 with new health features, tvOS 19, and HomePod software improvements. While WWDC traditionally focuses on software, hardware announcements remain possible, particularly a new Mac Pro with the anticipated M4 Ultra chip.

This WWDC represents Apple’s most significant AI push yet, positioning the company to compete more effectively in the generative AI landscape.

Is Apple Stock a Good Buy Right Now?

In fiscal Q2 2025, Apple reported revenue of $95.4 billion, an increase of 5% year over year. It has demonstrated resilience despite challenging macroeconomic conditions, reporting adjusted earnings per share of $1.65 in the March quarter. Apple maintained strong performance across product categories with Services revenue touching an all-time high of $26.6 billion. 

The standout product launch was the iPhone 16e, featuring Apple’s first internally designed C1 modem. Mac revenue grew 7%, driven by M4-powered devices, while iPad revenue showed an impressive 15% growth due to strong demand for the M3-powered iPad Air.

Apple’s geographic diversification strategy proved crucial as trade tensions escalated. It now sources 50% of U.S.-bound iPhones from India, with Vietnam manufacturing several other products for the American market. This strategic shift helped limit tariff exposure to around a $900 million impact for the June quarter. However, President Donald Trump has threatened 25% tariffs on iPhones if Apple does not shift production to the U.S. It will be critical for investors to follow how this plays out. 

The Services business momentum continued with over 1 billion paid subscriptions and strong engagement across Apple’s ecosystem. The company’s substantial $500 billion four-year U.S. investment plan, including advanced server manufacturing in Texas and chip sourcing from 12 states, underscores its commitment to domestic production capabilities.

The Apple Intelligence rollout expanded to multiple languages, though more advanced Siri features face delays as the company maintains quality standards. 

What Is the Target Price for AAPL Stock?

Analysts tracking Apple stock expect adjusted earnings per share to expand from $6.75 in fiscal 2024 to $11.92 in fiscal 2029. Today, Apple stock trades at a forward price-earnings multiple of 28x, which is higher than its 10-year average of 21.4x. If AAPL stock is priced at 22x forward earnings, it will trade around $262 in early 2029, above the current target price of $201.36. 

Out of the 37 analysts tracking Apple stock, 18 recommend “Strong Buy,” four recommend “Moderate Buy,” 12 recommend “Hold,” one recommends “Moderate Sell,” and two recommend “Strong Sell.”

The average target price for AAPL stock is $231.11, indicating upside potential of more than 15% from current prices.