10:39 AM EDT, 06/09/2025 (MT Newswires) -- Apple's ( AAPL ) Worldwide Developers Conference on Monday could mark the beginning of the artificial intelligence monetization period for the iPhone maker, Wedbush Securities said in a Monday note.

The company is expected to update investors about its overall AI strategy and unveil a "wide array" of new features through Apple Intelligence at the conference, including a revamped operating system, the brokerage said. The company is also anticipated to provide updates on Siri's integration with Gemini and ChatGPT, Wedbush said.

"While many on the Street are heading into WWDC as underwhelming given the slower-than-expected rollout of Apple Intelligence, we disagree with this bearish narrative and strongly believe this will be the start of AI monetization period of the Apple ( AAPL ) ecosystem," Wedbush analysts led by Daniel Ives wrote in the note.

Apple ( AAPL ) announced a number of AI features debuting as Apple Intelligence across the company's devices and operating systems at its Worldwide Developers Conference last year.

The brokerage continues to view the first launch of Apple Intelligence as the start of a wider AI strategy for the company, with about 25% of the global population estimated to access AI through an Apple ( AAPL ) device in the next few years. Wedbush sees the company as "essentially a toll collector on its unmatched global ecosystem."

Wedbush expects Chinese e-commerce giant Alibaba Group (BABA) to be announced as Apple's ( AAPL ) AI partner in China before the fall timeframe, laying the groundwork for its global AI push.

Apple Intelligence has been a catalyst for upgrades in the US, and the brokerage projects that more than 100 million of the roughly 200 million iPhone users in China could upgrade their devices. "While there are still some small issues to be resolved we believe there is growing confidence inside and outside China this AI launch will ultimately happen between Apple ( AAPL ) and Alibaba," according to Ives.

The brokerage maintained its outperform rating on Apple's ( AAPL ) stock with a 12-month price target of $270.

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