Morgan Stanley has raised its Apple stock price target to $360 from $330 while keeping its Overweight rating. Analyst Erik Woodring cited progress across Apple’s artificial intelligence roadmap following the opening of WWDC 2026.
Apple shares traded near $301.54 after falling about 2% following the keynote. Morgan Stanley’s new target suggests almost 19% upside from that level. Still, the firm warned that Apple’s AI development ‘will be a marathon, not a sprint.’
Woodring said Apple presented a stronger product roadmap and clearer launch plans for its upgraded artificial intelligence tools. The company introduced Siri AI and expanded Apple Intelligence features across its software platforms.
Morgan Stanley believes these updates create earlier opportunities for Apple to generate revenue from AI. The firm raised its fiscal 2027 earnings per share estimate to $10.30 from $10.23. It expects hardware and services to support the company’s monetization plans.
Siri AI can understand personal context and complete tasks across supported applications. Apple also introduced tools that collect relevant information from emails, messages and other apps during calls. These functions aim to make the assistant more useful across Apple devices.
Woodring said WWDC marked ‘a step in the right direction’ for Apple’s AI strategy. Nevertheless, his statement also signals that the company still faces a long development period before delivering its full plans.
Apple’s current AI plans face several limits. Siri AI will not initially launch in the European Union or China. Those markets account for about 35% of trailing 12-month iPhone shipments, according to Morgan Stanley’s analysis.
Third-party app integration also remains limited, while the platform offers few advanced workflows that can complete complex tasks without regular user input. These gaps may restrict early adoption and delay revenue from some Apple Intelligence services.
Investors also reacted cautiously to the WWDC presentation. Apple stock fell around 2% as the keynote offered many software updates but few immediate changes to the company’s financial outlook.
Market doubts remain visible across Wall Street. Barclays maintained an Underweight rating and a $253 target, while describing the updates as more gradual than transformative. Rosenblatt also maintained a Neutral rating with a $276 target after the event.
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Morgan Stanley identified three upcoming events that could shape Apple stock performance. Investors will first examine the company’s June-quarter results and September-quarter guidance, which Apple expects to release near the end of July.
Attention will then shift to the planned iPhone 18 lineup and Apple’s first foldable iPhone. Morgan Stanley expects both products to launch in mid-September. Sales figures and pricing could offer clearer evidence of whether new hardware can drive another upgrade cycle.
Apple also plans to relaunch Apple Intelligence and Siri AI during fall 2026. A successful rollout may help the company expand AI services and encourage customers to buy compatible devices. Delays or restricted availability could slow that process.
Other analysts hold stronger expectations. BofA Securities has a $380 price target, while Evercore ISI targets $365. Wedbush has set a $400 target, citing possible revenue growth from AI services and future device demand.
Morgan Stanley’s revised target places the firm among Apple’s bullish analysts. However, its ‘marathon, not a sprint’ warning reflects doubts around rollout speed, regional access and advanced app support.