Morgan Stanley Lifts AAPL Target to $360 Post-WWDC as Stock Holds Near $310

Apple shares slipped 2–3% to near $310 after WWDC 2026 unveiled a Siri overhaul and new Apple Intelligence features, triggering sharply divided Wall Street reactions. The pullback follows a rapid pre-event rally that lifted the stock from ~$267 to record highs above $315, fueled by strong Q2 results and AI optimism. Morgan Stanley raised its target to $360 (Overweight) and flagged a potential historic upgrade cycle from 1.3 billion older iPhones, while BofA held $380 Buy; bears including Barclays ($253 Underweight) called the updates evolutionary rather than transformative. Full Siri rollout remains deferred to fall 2026 with limited initial availability.