Wedbush Analyst Raises Apple Price Target on Strong iPhone 17 Demand Signals

Wedbush's top analyst Daniel Ives increased his price target for Apple (AAPL) to $310 from $270, maintaining a Buy rating. The adjustment follows early indicators of robust demand for the upcoming iPhone 17 cycle, with units tracking 10%-15% ahead of iPhone 16 volumes.

Supply chain checks suggest production ramps of approximately 20% for base and Pro models. The iPhone Air emerges as a potential dark horse in this upgrade cycle, while Pro models show particularly strong demand based on shipping time analyses.

The upgrade cycle appears more vigorous than anticipated, fueled by pent-up consumer demand. An estimated 315 million out of 1.5 billion iPhone users haven't upgraded their devices in four years, creating substantial latent demand alongside new design features.