Apple Stock Disappoints After WWDC: Analyst Says This Price Is 'Better Entry Level' For Investors

An Apple Inc AAPL analyst says the company's WWDC event was disappointing and featured a lack of surprises and new information.

The AAPL Analyst: Needham analyst Laura Martin reiterated a Hold rating on Apple with no price target. The new note comes shortly after Martin downgraded Apple stock from Buy to Hold and withdrew a $225 price target.

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The Analyst Takeaways: Martin said Apple's WWDC keynote had "no surprises," a factor that could be due to the large number of blogs dedicated to writing about the company.

"Most key AAPL announcements yesterday, during the WWDC keynote, had been widely written about beforehand," Martin said.

The analyst said three things were new to her during the event: live-call real-time translations, call screening with a call-back option, and a video game hub.

"None of these are important upside value drivers, in our view."

Martin said the event also featured items like Liquid Glass, renaming software upgrades, Siri updates, CarPlay enhancements and more that were previously written about.

"It is difficult for AAPL to surprise Wall Street."

On the Siri update front, Martin said these were "late" and "underwhelming."

"As we stated in our AAPL downgrade last week, we believe that AAPL requires an iPhone upgrade cycle for these shares to work."

Martin said nothing from WWDC will cause consumers to rush out and buy new iPhones in the next 12 months.

"We remain on the sidelines."

While Martin has no price target on Apple stock, the analyst said the $170 to $180 per share range would be "a better entry level" for investors.

AAPL Price Action: Apple stock is up 0.9% to $203.30 on Tuesday versus a 52-week trading range of $169.21 to $260.10. Apple stock fell 1.4% on Monday and shares are down 16.8% year-to-date in 2025.

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