Apple $330 Targets Hold as Siri Delay Sparks 1.2% Sell-Off and AI Launch Risks
Apple shares are up 4.5% over the past year but down 5.6% YTD after a three- to four-month Siri delay sparked a 1.2% sell-off and Evercore ISI and Goldman Sachs maintained $330 targets. Investors monitor March risks to Apple Intelligence AI launch, 7% App Store spending growth and FTC scrutiny.
1. Stock Performance and Analyst Ratings
Apple shares have gained 4.5% over the past year but remain down 5.6% YTD, while Evercore ISI and Goldman Sachs both maintained $330 price targets. A leading market commentator described Apple as the “greatest free rider in history,” noting the company saved billions in AI investment by partnering with Google.
2. Siri Delay and Stock Reaction
Share price dipped 1.2% when investors learned of a potential three- to four-month delay in upcoming Siri features, underscoring concerns that internal testing issues could push back the rollout.
3. AI Platform Risks and App Store Growth
The planned March debut of the Apple Intelligence AI platform faces testing hurdles that may delay its launch, even as App Store spending accelerated to 7% year-over-year in January, up from 6% in December.
4. Regulatory Scrutiny and Legal Victory
CEO Tim Cook received an FTC letter raising concerns over alleged political bias in Apple News, and a jury dismissed Optis Wireless claims of 4G LTE patent infringement, removing a major legal overhang.