What's Going On With Apple Stock Today?

Apple Inc. AAPL shares are bouncing around on Wednesday. A mix of corporate headlines and analyst commentary has grabbed investor attention.

What To Know: Apple announced a C-suite change late Tuesday, naming its first new chief operating officer (COO) in over a decade. Sabih Khan will transition to the COO role, replacing Jeff Williams as part of a long-planned succession.

The executive shuffle is part of an internal restructuring aimed at streamlining product teams and improving cross-functional coordination, particularly in areas like AI and wearables.

Bloomberg reported on Wednesday that the company is preparing to release the first update to its Vision Pro headset later this year. The update will feature a faster M4 processor, AI-optimized components and an improved strap for user comfort.

The move comes as Apple looks to address weak demand and limited app support for its $3,499 headset, which has so far failed to gain traction with consumers. The update is seen as a placeholder until a lighter, lower-cost version expected in 2027 is ready.

Wedbush’s Dan Ives said in a new note on Wednesday that Apple’s window for capturing a piece of the AI pie is narrowing. The tech analyst believes the company should acquire AI startup Perplexity to avoid risking falling too far behind in the AI race.

“Perplexity is the ‘no brainer’ deal to help launch Apple’s AI strategy,” Ives wrote in the note.

The Wedbush analyst believes Perplexity’s AI search engine would be a natural fit for Siri. The company is valued at around $14 billion, but even a $30 billion takeover deal would be worth the potential revenue opportunity, he said.

Wedbush maintained its Outperform rating and price target of $270 on Apple.

AAPL Price Action: Apple shares fell to $207.22 in Wednesday’s session before bouncing back. The stock was trading flat at $210.02 at the time of publication, according to Benzinga Pro.

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