Apple recently held its Worldwide Developers Conference (WWDC) 2025 keynote, which was described by Wedbush analysts as delivering 'slow but steady improvements to strategy,' but ultimately being a bit lackluster.

The event unveiled an iOS update with some new features; however, it did not provide a specific timeline for AI-powered Siri features that investors were eagerly anticipating.

Wedbush analysts pointed out that Apple seems to be behind in the artificial intelligence race, especially after the WWDC keynote did not include any updates on AI-enhanced Siri features.

During the presentation, Apple's Senior Vice President of Software Engineering, Craig Federighi, mentioned that there is still more work to be done and that more information will be shared in the upcoming year.

Despite the lack of major Siri updates, Apple did introduce a software development kit that allows developers to create apps using the large language models within Apple Intelligence, setting the stage for future AI advancements.

Goldman Sachs analysts acknowledged that the absence of Siri updates might have been disappointing, but they highlighted incremental improvements such as the new 'liquid glass' iOS redesign and features like AI-powered live translation as positive developments that could help retain users.

Despite the mixed reactions to the WWDC keynote, Wedbush and Goldman Sachs maintained bullish price targets of $270 and $253, respectively. UBS reiterated its $210 target, while JPMorgan stayed at $240.

Following the WWDC event, Apple's shares dipped about 1% but remained relatively stable in recent trading, hovering around $203.

Apple has faced challenges this year, with its shares declining by approximately 20% in 2025 due to concerns about tariffs and the company potentially lagging behind in the AI space. Competitors like OpenAI have also made moves to enter the AI device market, posing additional competition for Apple.