Wedbush Raises Apple Target to $350 on AI Pivot and iPhone Strength
Wedbush Securities delivered a bullish upgrade on Apple Inc., lifting its price target to $350 from $320 while maintaining an Outperform rating. The move comes as analysts anticipate 2026 will mark Apple's decisive entry into artificial intelligence, with a potential Gemini partnership and leadership changes signaling strategic shifts.
iPhone 17 sales are outperforming expectations globally, particularly in China, where December quarter results are tracking ahead of Street forecasts. The tech giant's holiday season performance suggests resilient demand despite macroeconomic uncertainties.
Key personnel changes accompany this transition. AI researcher Amar Subramanya will replace John Giannandrea as head of Machine Learning and AI Strategy, bringing cross-industry expertise from Microsoft and Google. Wedbush estimates AI monetization could add $75-$100 per share in valuation upside currently absent from the stock price.
