Wedbush Reaffirms Confidence in Apple Amid AI Advancements and Robust iPhone 17 Sales
Investment firm Wedbush has reiterated its Outperform rating for Apple Inc. (AAPL), maintaining a price target of $350. This decision reflects the firm’s confidence in Apple’s strategic direction, particularly its advancements in artificial intelligence (AI) and the strong performance of the iPhone 17 series.
Analyst Dan Ives from Wedbush emphasized that 2026 is poised to be a transformative year for Apple as it intensifies its AI initiatives. The company is expected to unveil a comprehensive AI strategy, building upon the foundation laid in previous years. This strategy includes deeper integration of AI across Apple’s ecosystem, potentially leading to significant monetization opportunities. Ives projects that AI-driven monetization could add between $75 to $100 per share to Apple’s valuation over the coming years. ([investing.com](https://www.investing.com/news/analyst-ratings/apple-stock-price-target-raised-to-350-from-320-at-wedbush-93CH-4395395?utm_source=openai))
A key component of this AI strategy is the anticipated partnership with Google’s Gemini AI model, expected to be announced in early 2026. This collaboration is seen as a potential game-changer, particularly for enhancing Siri’s capabilities and accelerating Apple’s AI roadmap. ([investing.com](https://www.investing.com/news/analyst-ratings/apple-stock-price-target-raised-to-350-from-320-at-wedbush-93CH-4395395?utm_source=openai))
In addition to AI advancements, Apple’s iPhone 17 series has demonstrated robust sales performance. Initial sales data indicates that iPhone 17 units are tracking 10% to 15% ahead of iPhone 16 sales, with particularly strong demand in the Chinese market. Supply chain checks suggest that Apple may increase production of the base iPhone 17 and Pro models by approximately 20% to meet this demand. ([investing.com](https://www.investing.com/news/analyst-ratings/wedbush-raises-apple-stock-price-target-to-310-on-strong-iphone-17-demand-93CH-4248019?utm_source=openai))
Wedbush also highlights the significant upgrade potential within Apple’s user base. Approximately 315 million iPhone users have not upgraded their devices in over four years, representing a substantial opportunity for future sales growth. China is identified as a critical market for this upgrade strategy, with Apple focusing on capitalizing on this opportunity. ([investing.com](https://www.investing.com/news/analyst-ratings/apple-stock-price-target-maintained-at-270-by-wedbush-on-upgrade-potential-93CH-4232770?utm_source=openai))
Leadership changes within Apple further underscore the company’s commitment to AI development. The appointment of Amar Subramanya as Senior Vice President for Machine Learning and AI Strategy is viewed as a strategic move to bolster Apple’s AI capabilities. Additionally, CEO Tim Cook is expected to remain at the helm through at least the end of 2027 to guide the company through this technological transition. ([coincentral.com](https://coincentral.com/apple-aapl-stock-wedbush-sets-350-price-target-on-ai-growth-plans/?utm_source=openai))
Wedbush’s reaffirmation of its Outperform rating and $350 price target reflects a strong belief in Apple’s strategic direction, particularly its focus on AI integration and the continued success of its hardware products. Investors are encouraged to consider these factors when evaluating Apple’s potential for sustained growth in the coming years.
