Apple stock selloff ’unwarranted,’ Wedbush’s Ives says

Investing.com — Apple’s recent share-price decline is “unwarranted,” according to Wedbush, which argued that investor concerns over potential delays to the company’s artificial intelligence rollout are overstated.

In a note on Tuesday, analyst Dan Ives explained to investors that Apple’s stock has dropped in recent weeks on worries that “much anticipated AI features will be delayed with Siri AI” after what he called a year-long “soap opera” over the company’s perceived lack of strategy.

But Wedbush believes the focus should be on Apple “getting its AI strategy right,” adding that advanced features targeted for this summer “still appear on target.”

Ives stressed that the current situation is “way different” from last year’s missteps, citing Apple’s Google Gemini partnership, new external AI leadership and a recognition inside the company that its revamped Siri architecture is one of the most consequential technology rollouts in its history.

“The time is now for Apple to accelerate its AI efforts,” Wedbush wrote.

The firm said the market is “significantly underestimating” the impact of Apple’s planned Siri AI platform, expected in 2026, noting the company’s installed base of 2.5 billion iOS devices and 1.5 billion iPhones.

Wedbush estimates AI monetisation could add $75 to $100 per share over the coming years.

Ives also said developers and consumers are “waiting patiently” for the enhanced Siri release targeted for spring, calling it “Apple’s answer to ChatGPT and Perplexity.” He added that an AI-driven subscription service is expected by the autumn.

Wedbush reiterated its outperform rating and $350 price target on Apple.

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