Morgan Stanley says Apple’s (AAPL) WWDC 2025 kickoff was heavy on design, user interface, and platform unification upgrades, alongside “a sprinkling of AI upgrades,” but few major AI feature enhancements. While the firm believes sentiment is unlikely to shift until more tangible AI progress is evident, it contends that Apple “clearly still has the ingredients to make it an AI winner.” The firm keeps an Overweight rating and $235 price target on Apple shares.
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