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Evercore Maintains Outperform Rating on Apple (AAPL), Expects Small Updates at WWDC

On Tuesday, June 3, Evercore ISI analysts reaffirmed an “Outperform” rating on Apple Inc. (NASDAQ:AAPL) with a $250 price target.

Analysts expect this year’s Worldwide Developers Conference (WWDC) by Apple Inc. (NASDAQ:AAPL) to be quieter compared to previous years, with not as many significant announcements.

An Apple store displaying the latest in consumer electronics, from smartphones to wearables.

Evercore ISI analysts pointed out that Apple Inc. (NASDAQ:AAPL) is likely to introduce its foundation models to app developers. The analysts also expect the company to expand its Apple Intelligence partnerships besides OpenAI, with Perplexity and Gemini as potential new partners.

A significant update to Apple Inc.’s (NASDAQ:AAPL) operating systems is expected. This could include a new way of naming by adding the year at the end like iOS 26.

The analysts noted that the company is focusing on smaller, efficient scale on-device models and large-scale models to avoid spending huge amounts on AI infrastructure like some of its competitors. Apple Inc. (NASDAQ:AAPL) is instead aiming to make money by charging model providers for access to iOS users. This is a more capital-light business model.

This year’s WWDC is expected to be low-key, with small improvements and no major new hardware announcements. The analysts expect major updates from Apple Inc. (NASDAQ:AAPL) will come in 2026.

While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AAPL and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds.

Disclosure: None.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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