Citi says Apple (AAPL) released iOS 18.2 beta for developers yesterday. iOS 18.2 has most of the Apple Intelligence features Apple promised at its developer conference, especially ChatGPT minus the Siri actions and personal context. the analyst tells investors in a research note. Developer feedback indicates the release was on time and is implemented well for a beta, the firm adds. With a major Apple Intelligence Siri update feature likely to be available in spring of next year, Citi believes the iPhone refresh will happen in 2025 with the iPhone 17 launch. It expects stock to be volatile, believing a prolonged Apple Intelligence software release will likely impact typical iPhone sales seasonality this year. Citi remains a buyer of Apple on weakness into the Spring Siri launch next year and keeps a Buy rating on the name with a $255 price target
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