Morgan Stanley has reiterated its Overweight rating on Apple Inc. (AAPL) with a price target of $235, citing a 10% year-over-year growth in the U.S. App Store for May, a 2-point acceleration from April. Revenue per download increased by 5% year-over-year, a 3-point acceleration from April. JP Morgan analyst Samik Chatterjee also maintains an Overweight rating, highlighting a 4.9% month-over-month rise in App Store revenue in May, above the typical 2.3% increase for this period. Ahead of Apple's Worldwide Developers Conference (WWDC) on June 9, Wedbush has reiterated its Outperform rating with a $270 price target, noting that the event could initiate Apple's AI monetization phase. However, reports indicate that Apple will not announce major new AI features or hardware at WWDC, and the anticipated integration of Google's Gemini AI with Apple Intelligence will not be announced, reportedly due to the ongoing Department of Justice antitrust trial involving Google. Apple is expected to unveil only a few new AI features at WWDC, with the most notable potential announcement being the opening of its foundation models to outside app developers. This would enable third-party apps to build their own AI functionalities using Apple Intelligence. The company is also expected to introduce major software updates for iOS, iPadOS, and macOS, including a redesign inspired by visionOS and a new naming convention for its operating systems.