Apple stock slid significantly after the WWDC keynote, with some attributing the drop to disappointment in the company’s AI announcements. While we disagreed with that analysis, investors have welcomed Apple’s cautious stance, and the stock has rallied 15% since that June low.

Shares fell 4% the day after the keynote, but macro‑economic factors—including US strikes against Iran—impacted many stocks. The rally has pushed Apple back into record territory. Bloomberg notes that investors are skeptical about AI spending elsewhere, so Apple’s restrained approach is now viewed positively.

Mark Bronzo, chief investment strategist at Rye Strategic Partners, said the market battle favors Apple because it isn’t in the AI storm. Investors gravitate back to Apple as a steady name without the associated risks.

Analysts are unconcerned about Bear pricing increases; J.P. Morgan reports past raises haven’t hurt demand, and there is optimism about revenue from the iPhone Ultra. Louis Navellier predicts pricing will offset memory issues, and Apple’s net income is expected to rise 17% this fiscal year.