Apple Stock Falls Despite New Price Target. It’s Among the Highest on Wall Street.

While Apple’s stock was falling early on Tuesday, its artificial-intelligence announcements are fueling bullish forecasts among Wall Street analysts. Apple stock was down 0.8% at $215.01 in early trading. “We are updating our volume forecasts for the iPhone 16 and iPhone 17 cycle following the WWDC event, which laid out a collection of AI features that in our view will drive an upgrade cycle that starts with the iPhone 16 launch…followed by a cycle peak with the launch of iPhone 17,” wrote J.P. Morgan analyst Samik Chatterjee in a research note on Tuesday.