Apple has announced a significant upgrade to its AI-powered digital assistant, Siri, during its Worldwide Developer Conference (WWDC) this week. The revamped Siri, which aims to be “more helpful, more capable, and more intelligent,” will be available on iPhones this fall. Analysts suggest that this development could boost Apple’s stock, with Wedbush’s Dan Ives projecting a target price of $400—representing a potential increase of 38% from its recent closing price.
To enhance its AI capabilities, Apple partnered with Nvidia and Google Cloud, utilizing Nvidia’s Blackwell B200 graphics processing units for its new Apple Foundation Model Cloud Pro. This approach will enable Siri to handle various user requests either locally on the device or through Google Cloud for more complex tasks. The system incorporates privacy technologies for secure data handling, reflecting Apple’s commitment to user security.
Wall Street is optimistic about Apple’s AI initiatives, with Morgan Stanley raising its target to $360, suggesting a potential 51% upside. Analysts highlight the company’s existing user base of 2.5 billion iOS users as a significant market advantage, positioning Apple for future growth in AI services.
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