Apple Warns AI Memory Costs Force Price Hikes as Post-WWDC Rally Stalls

Apple shares have traded flat to lower since the June 9 WWDC keynote despite unveiling a Gemini-powered Siri overhaul that drew fresh $400 price targets from Wedbush and Morgan Stanley’s $440 bull case. The stock’s muted reaction follows blowout May Q2 results of $111.18B revenue (+16.6% YoY) and a record $31B Services quarter that had already lifted valuations. On June 17 Apple flagged unavoidable price increases tied to surging memory costs from the AI boom, adding margin pressure just as investors await proof of monetization ahead of the September CEO transition to John Ternus.