Top Wedbush analyst Daniel Ives raised his price target on Apple (AAPL) to a Street-high $400 from $350 while maintaining an Outperform rating, indicating 36% upside from current levels. The stock climbed as much as 2% on Friday to close at $293.32, pushing Apple’s market value above $4.3 trillion as investors reacted to what Ives called a massive “AI opportunity.”
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The analyst believes Apple is a “sleeping tech giant” poised for a major valuation inflection point as it integrates artificial intelligence across its global ecosystem.
Interestingly, Ives ranks No. 587 out of more than 12,200 analysts tracked by TipRanks. He has a success rate of 54%, with an average return per rating of 14.10% over a one-year period.
Ives Sees Further Upside in Apple Stock
Ives believes Apple is entering a major new growth phase as AI features become more deeply integrated across iPhones and other Apple devices. The analyst estimates that nearly 20% of the world’s population could eventually access AI through Apple’s ecosystem over the next few years.
He also expects AI-related services and storage features to create a large new revenue stream for the company. According to Wedbush, Apple could generate an additional $15 billion in annual services revenue as it expands its AI offerings to its global user base.
At the same time, Ives highlighted Apple’s partnership with Alibaba (BABA) for AI features in China as an important part of the company’s long-term strategy. He believes the partnership could help Apple strengthen its position in China by bringing localized AI tools to its large installed base in the region.
Looking ahead, Wedbush also pointed to a more advanced AI-focused iPhone expected in 2027, which marks the device’s 20th anniversary.
Is Apple a Buy or Sell Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 17 Buys, 10 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average AAPL price target of $314.78 per share implies 6.96% upside potential.
