Apple Inc AAPL shares are trading lower Wednesday afternoon as investors continue to digest announcements from this week’s Worldwide Developers Conference.
What To Know: The much-anticipated event showcased updates across Apple’s operating systems, including a new design language called “Liquid Glass,” but left some analysts and investors underwhelmed by its advancements in artificial intelligence.
The market’s reaction suggests that the incremental updates and a delayed overhaul of its voice assistant, Siri, failed to impress. Bloomberg’s Mark Gurman called the lack of “any real new AI features…startling.”
Read Also: What’s Going On With GameStop Stock Wednesday?
Similarly, Needham analyst Laura Martin reiterated a “Hold” rating, stating that nothing presented would catalyze an immediate iPhone upgrade cycle. She noted that most announcements had been widely reported beforehand, leaving “no surprises” for Wall Street.
However, not all sentiment was negative. Goldman Sachs analyst Michael Ng maintained a “Buy” rating and a $253 price target, arguing that the ecosystem’s “stickiness” and forthcoming hardware refreshes would continue to drive value.
TechRadar also highlighted the potential of Apple opening its Foundation AI Models to developers, suggesting it could secure the company’s future.
Price Action: According to data from Benzinga Pro, Apple’s stock is trading lower by 1.77% to $199.09 late Wednesday, near session lows.
Read Also: Dow Jones Breaks 43,000, Palantir Hits New Record Highs: What’s Driving Markets Wednesday?
How To Buy AAPL Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Apple’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, AAPL has a 52-week high of $260.09 and a 52-week low of $169.21.
Image: Shutterstock
