Apple Inc. (NASDAQ:AAPL) stock is trading lower by almost 1% on Tuesday as broader market sentiment remains cautious despite relative strength in Technology.
The Nasdaq is down 0.11%, while the S&P 500 has shed 0.24%.
Apple Rolls Out Redesigned Siri
Separately, Apple released iOS 27 on Monday, bringing a redesigned version of its Siri AI assistant to users just days before the company’s latest iPhones hit store shelves.
The update puts Apple’s delayed Siri overhaul back in focus as the company works to strengthen its position in consumer artificial intelligence. Analysts, meanwhile, see Apple’s large installed base and aging iPhone fleet supporting a broader upgrade cycle.
Redesigned Siri Arrives In Beta
The new operating system includes Apple’s AI-powered Siri in beta, CNBC reported Tuesday.
Users must opt in through the Settings app to access the feature. However, some may have to join a waitlist before gaining access.
The rollout marks a key step in Apple’s effort to expand its consumer AI offerings after delays affected its Siri overhaul.
The company first announced a more personalized, AI-powered Siri in 2024 but delayed the upgraded assistant last year.
The timing also puts the new Siri experience alongside Apple’s latest hardware cycle, potentially giving customers another reason to upgrade.
Munster Sees Growth Shifting Into 2027
Against that backdrop, Deepwater Asset Management’s Gene Munster expects Apple’s staggered iPhone launch schedule to shift some growth into the March and June quarters.
Wall Street expects roughly 14% to 15% March-quarter growth, Munster said. However, he believes growth could approach 20% as delayed product launches contribute to sales.
Munster also pointed to Apple’s pricing power. He said previous price increases had little impact on customer retention, suggesting consumers remain relatively loyal to the ecosystem.
Ives Sees 300 Million-Phone Upgrade Opportunity
Yorkville Ives founding partner Dan Ives sees another potential catalyst in Apple’s aging device base. He estimates about 300 million iPhones have not been upgraded in more than four years.
That creates a sizable replacement opportunity as Apple adds more AI capabilities to its devices.
Ives also expects a planned foldable iPhone could eventually account for 15% to 20% of sales among Pro and Pro Max customers. Apple’s roughly 1.5 billion iPhone and 2.5 billion iOS-device installed base could further support adoption.
He expects limited customer churn from a roughly $100 price increase. However, Ives cautioned that Apple’s pricing power has limits as higher memory costs put pressure on margins.
Technical Analysis
Apple remains in a long-term uptrend. The stock trades 3.5% above its 20-day SMA of $319.23, 3.6% above its 50-day SMA of $318.82 and 15.7% above its 200-day SMA of $285.51.
The moving-average structure remains bullish. MACD is also above its signal line, while the histogram is positive.
Key resistance sits at $344.50, just below the 52-week high of $344.57. Key support is around $300.50.
Price Action
AAPL Stock Price Activity: Apple shares were down 0.77% at $330.50 at the time of publication Tuesday, according to Benzinga Pro data.
Photo via Shutterstock
Login to comment