<div id="readability-page-1"><div><div>Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc AAPL with a price forecast of $270.On Monday, Apple will host WWDC in Cupertino at Apple Park, where it will present its key annual conference for developers.Ives stated in the analyst note that Apple’s AI strategy has faced many challenges since the launch of Apple Intelligence, as this ultimately unlocks the developer ecosystem, which remains the heart and lungs of the Apple story.Also Read: Tariffs, AI And Trade War: Apple’s Smartphone Growth To Take A Hit, Experts SayWhile many on the Street are heading into WWDC as underwhelming, given the slower-than-expected rollout of Apple Intelligence, the analyst strongly noted that this will be the start of the AI monetization period of the Apple ecosystem as the company will continue to lay the foundation through its new operating system updates across Mac, iOS, iPad, and others with its “26” update.Ives will seek the blueprint for the next frontier of the AI and developer strategy from Chief Tim Cook and Apple.The analyst continues to view this first launch of Apple Intelligence as just the beginning of a broader AI strategy for Apple, as he estimated roughly 25% of the world’s population will eventually access AI through an Apple device over the next few years.Ives said the company will provide a wide array of new features through Apple Intelligence, including a revamped operating system, while answering key questions about the overall AI strategy that has recently come under fire from the Street.The company will likely provide some crucial updates on Siri’s integration with Gemini and ChatGPT and the progress of integrating this technology deeper into its app ecosystem, which will be key to unlocking the iPhone upgrade cycle for iPhone 17, as per the analyst.Ives expects Alibaba Group Holding BABA to be announced as its AI partner in China before the Fall timeframe, ideally ahead of iPhone 17.The analyst said Apple Intelligence is a catalyst for upgrades in the U.S., and now, heading into 2026, the Golden Goose China region will be getting this technology launched.This Alibaba partnership is key to the long-awaited growth catalyst in this region. Ives estimates that over 100 million of the roughly 200 million iPhones in China are in the window of an upgrade opportunity.Ives projected fiscal 2025 revenue of $404.09 billion and EPS of $6.90.AAPL Price Action: Apple stock is up 0.45% to $204.83 at last check Monday.<ul> <li>Apple App Store Sales Jump In May, Boosting Outlook For Services Growth</li> </ul>Image via Shutterstock</div></div></div>

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Wedbush analyst Daniel Ives maintains an Outperform rating on Apple Inc (AAPL) with a price target of $270. Ahead of WWDC, Ives highlights Apple's AI strategy and potential updates to Siri as key factors for iPhone upgrades. He anticipates a partnership with Alibaba for AI in China, which could drive significant growth. Ives projects fiscal 2025 revenue of $404.09 billion and EPS of $6.90, noting that over 100 million iPhones in China are due for upgrades. Apple stock is currently up 0.45% to $204.83.

- Wedbush analyst Daniel Ives maintained an Outperform rating on Apple Inc with a price forecast of $270, highlighting challenges in Apple's AI strategy since the launch of Apple Intelligence.  
- Ives anticipates that the upcoming WWDC will mark the beginning of AI monetization for Apple, with significant updates expected for its operating systems and integration of AI technologies.  
- He projects fiscal 2025 revenue of $404.09 billion and EPS of $6.90, noting that over 100 million iPhones in China are poised for upgrades, particularly with a potential partnership with Alibaba.

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Apple's WWDC: Analyst Sees AI Unveil, Siri Revamp And Alibaba Deal As Catalyst For iPhone Upgrade