Apple Inc. (AAPL) is best known for iPhones, services, and steady cash returns, not flashy AI launches. Yet that is precisely why top Wedbush analyst Dan Ives sees Apple as one of his top AI stocks heading into 2026.
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In his latest outlook, Ives included Apple (AAPL) among his top five AI picks — alongside Microsoft (MSFT), Tesla (TSLA), Palantir (PLTR), and CrowdStrike (CRWD) — even as he described Apple’s AI approach as largely “invisible” so far.
Apple Builds AI Through Its Ecosystem
Unlike other megacap tech firms, Apple has not rushed to build massive AI data centers or roll out headline-grabbing chatbots. Instead, Ives noted that the company has taken a quieter route, focusing on how AI can be integrated into existing products and services over time.
From his perspective, that strategy is not fully reflected in current expectations. Apple has the world’s largest consumer tech base, with more than 2.4 billion active iOS devices and roughly 1.5 billion iPhones in use. Ives argues that even modest AI-driven upgrades, if rolled out at scale, could have a meaningful impact across this ecosystem.
Wedbush estimates that successful AI monetization could add $75 to $100 per share to Apple’s stock over the coming years, as AI features support device upgrades, services growth, and pricing power.
Capital Discipline Still a Key Part of the Story
Ives has also pointed out that Apple’s appeal lies partly in what the company has avoided. While peers have sharply increased AI-related spending, Apple has kept capital investment more measured, helping protect margins and free cash flow.
In its most recent quarter, Apple returned about $20 billion to shareholders through share buybacks alone. That focus on cash returns continues to resonate with investors seeking stability alongside long-term growth potential. This balance helps explain why Apple trades at one of the highest forward price-to-earnings multiples among the Magnificent Seven, second only to Tesla.
Looking forward, Ives expects Apple to expand its AI efforts, but without abandoning its core operating model. In his view, Apple does not need to lead the AI spending race to benefit from the technology.
Is AAPL Stock a Buy?
Turning to Wall Street, Apple stock has a Moderate Buy consensus rating based on 20 Buy, 10 Hold, and two Sell recommendations assigned in the last three months. The average AAPL price target of $299.49 implies 9.67% downside risk from current levels.
