Apple, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Daniel Ives from Wedbush maintained a Buy rating on the stock and has a $350.00 price target.
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Daniel Ives has given his Buy rating due to a combination of factors including Apple’s strong iPhone 17 sales and its emerging AI strategy. The company is expected to enter the AI Revolution in 2026, with a significant partnership with Google Gemini anticipated to be a pivotal moment. This collaboration is seen as a gamechanger, potentially adding substantial value to Apple’s stock.
Furthermore, Apple’s recent leadership changes in AI, including the hiring of Amar Subramanya, are viewed as strategic moves to enhance its AI capabilities. The absence of an AI premium in Apple’s current stock price presents an attractive investment opportunity. With Apple’s vast consumer base and the anticipated AI advancements, Ives maintains an OUTPERFORM rating, highlighting Apple as a key player in the AI sector moving forward.
In another report released yesterday, Robert W. Baird also reiterated a Buy rating on the stock with a $300.00 price target.