Apple (NASDAQ:AAPL) marks its Golden Jubilee tomorrow, with April 1st representing 50 years since its founding. Apple’s importance to the modern tech landscape is unquestioned, with the company considered one of the most transformative tech names in history.
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Apple has helped reshape multiple industries, from personal computing with the Macintosh in 1984, to music with the iPod in 2001, mobile phones with the iPhone in 2007, and wearables with the Apple Watch in 2015.
It hasn’t all been smooth sailing. The company almost went bankrupt in the late 1990s, but then went on to become the world’s largest public company, driven by Steve Jobs’ focus on design, simplicity, and ecosystem integration. While many companies concentrated on releasing hardware products, Apple instead focused on controlling the full technology stack, including chips, software, retail, and services. Wedbush analyst Daniel Ives says this approach supported strong revenue growth and created a “golden moat and competitive position” across each segment, with around 1.5 billion iPhones and 2.5 billion iOS devices in use globally today.
But while Apple has often been a trailblazer, so far it has not really made much of a name for itself in the realm of AI. Could that be about to change?
With Apple set to host its WWDC event in early June, Ives believes investors will be closely watching for updates on the company’s AI progress across its product ecosystem, including the long-awaited launch of Siri AI.
After WWDC 2025 disappointed somewhat with no meaningful AI announcement, Apple is expected to provide a more detailed AI strategy following delays to its “marquee release.”
Ives expects the focus will also be on the integration with Google Gemini, which should help power Apple’s underlying models for AI features, including a more personalised version of Siri with improved contextual understanding and on-screen awareness.
The company should also introduce new developer tools aimed at simplifying AI integration, alongside expanded APIs for third-party applications, with privacy remaining central to its on-device AI approach. Ives also talks of a potential AI subscription service by 2027.
On the product side, Apple has been prioritising new hardware launches to capture rising demand for devices capable of running AI workloads, including recent product announcements featuring higher processing performance and increased memory designed to support the shift toward the AI era. Ives thinks the company is probably in the advanced stages of developing a foldable device, the iPhone Fold, based on supply chain checks. There are rumors it will debut later this year alongside the iPhone 18 launch in September, potentially providing an additional catalyst for hardware revenue.
All told, Ives reiterated an Outperform (i.e., Buy) rating on the shares, backed by a Street-high $350 price target, implying shares will gain 41% in the months ahead. (To watch Ives’ track record, click here)
The Street’s average target is a more modest $304.4, although that figure still offers one-year upside of 23%. On the rating front, based on a mix of 14 Buys, 9 Holds and 1 Sell, the stock claims a Moderate Buy consensus rating. (See Apple stock forecast)
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.