Apple Stock Dips Post-Earnings on Tariff Refunds and Memory Costs

Apple's stock price took a hit after its earnings report, despite beating revenue and EPS estimates. The company's shares fell 10.3% due to concerns over one-time tariff refunds and memory pricing pressures.

However, analyst Dan Ives of Wedbush Securities remains bullish on Apple, projecting a $400 price target driven by the upcoming AI upgrade cycle and strong Services growth.

Ives highlights Apple's potential from AI-powered Siri enhancements and hardware refreshes. He also notes that investors should watch memory cost trends and the evolving AI monetization as key factors for Apple's near-term performance.