BofA says Apple’s (AAPL) kickoff to its Worldwide Developers Conference event “was not as exciting as prior years,” but adds that Apple presented “a substantive UI refresh and developer-focused AI strategy” along with their most compressive visual update since 2013. Despite the event being “underwhelming versus prior years,” it affirms Apple’s privacy-centric take on AI, which the firm believes is “important to Apple ecosystem users and could prove smart.” Apple is expanding its AI offering and leaning into its ecosystem and reputation for seamlessness, adds the firm, which maintains its Buy rating and $235 price target on the shares.
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