<div id="readability-page-1"><p>Apple (AAPL) has largely been left out of the AI-driven stock rally that has boosted many of its Big Tech peers. However, Morgan Stanley analyst Erik Woodring believes Apple's upcoming Worldwide Developers Conference (WWDC) could begin to change that perception. The 5-star analyst reiterated his Overweight rating and $330 price target, arguing that a successful AI strategy could unlock a higher valuation for Apple stock, with a bull-case scenario reaching as high as $440 per share.</p><h3>Claim 55% Off TipRanks</h3><ul><li>Unlock trusted, data-backed investing tools with TipRanks Premium, from analyst ratings and forecasts to breaking news and portfolio analysis.  </li><li>Discover high-conviction stock picks and new investing opportunities with the TipRanks Smart Investor Newsletter </li></ul> <p>He noted that Apple's recent strength has been driven by its products and services business rather than AI. However, companies viewed as &#34;AI winners&#34; have often earned higher valuations over the past two years, and Woodring believes Apple could soon be seen as one of them.</p> <h2><strong>Why WWDC Could Be a Turning Point for Apple</strong></h2> <p>Woodring believes Apple now has more of the tools needed to compete in AI. He pointed to Google's (GOOGL) Gemini models supporting Apple Foundation Models, Apple's strong focus on privacy, and what appears to be a renewed push around Siri and Apple Intelligence.</p> <p>Unlike many of its rivals, Apple is not spending heavily on building AI infrastructure. Instead, the company can use its massive base of iPhone, iPad, and Mac users to bring new AI features to consumers. That approach could help Apple grow its AI offerings without the huge costs faced by some competitors.</p> <p>The analyst also sees an opportunity for Apple to help ease some of the industry's AI capacity constraints. A more capable Siri and improved Apple Intelligence platform could bring AI tools to millions of users through Apple's existing ecosystem.</p> <p>For investors, the bigger story may be valuation. Woodring believes that if WWDC shows a clear path for Apple's AI plans, the stock could earn a higher multiple. In that scenario, he sees shares reaching $365 to $385, with a bull-case valuation of as much as $440.</p> <h2><strong>Is AAPL Stock a Buy Ahead of WWDC?</strong> </h2> <p>Turning to Wall Street, AAPL stock has a Moderate Buy consensus rating based on 18 Buys, 10 Holds, and one Sell assigned in the last three months. At $320.83, the average Apple stock price target implies a 2% upside potential.</p></div>

1:00 AM Beijing Time on Jun 9, Apple kicked off the WWDC26 keynote — Tim Cook's final turn hosting the show before officially handing the reins to Ternus in Sep.On the AI front, Apple unveiled a major Siri overhaul: a standalone app, a backend model switch to GOOGL's Gemini, full conversation history, cross-app actions, and support for multiple third-party AI models — ending ChatGPT's status as the sole external gateway.Apple has trailed the market on AI for nearly two years. Can Gemini power a real turnaround? What's your read on AAPL's trajectory post-WWDC?

<p><strong>1:00 AM Beijing Time on Jun 9</strong>, Apple kicked off the WWDC26 keynote — Tim Cook's final turn hosting the show before officially handing the reins to Ternus in Sep.</p><p>On the AI front, Apple unveiled a major Siri overhaul: a standalone app, a backend model switch to GOOGL's Gemini, full conversation history, cross-app actions, and support for multiple third-party AI models — ending ChatGPT's status as the sole external gateway.</p><p>Apple has trailed the market on AI for nearly two years. Can Gemini power a real turnaround? What's your read on AAPL's trajectory post-WWDC?</p>

Apple WWDC: Can Siri + Gemini Rival ChatGPT?

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<p>Morgan Stanley analyst Erik Woodring maintains an Overweight rating on Apple with a $330 price target, but highlights a bull-case scenario of $440 per share. He argues that a successful AI strategy unveiled at the upcoming WWDC could significantly boost Apple's valuation. Unlike peers spending heavily on infrastructure, Apple can leverage its vast user base and privacy focus to integrate AI tools like Siri and Apple Intelligence efficiently, potentially repositioning it as an 'AI winner' in the market.</p>

- Apple (AAPL) has missed out on the AI-driven stock rally, but Morgan Stanley's Erik Woodring believes the upcoming WWDC could change this perception.  
- Woodring reiterated an Overweight rating with a $330 price target, noting that a successful AI strategy might elevate Apple's valuation significantly.  
- He highlighted Apple's tools for competing in AI, including using its existing user base to implement new features without heavy infrastructure costs, potentially raising stock prices to between $365 and $440.

Apple Stock's $440 Bull Case Hinges on One Thing, Says Morgan Stanley