This article first appeared on GuruFocus.
Apple (AAPL, Financials) received a price target increase from Wedbush, which lifted its outlook to $350 from $320 as the firm grows more confident in the company’s emerging artificial intelligence roadmap. Analysts led by Dan Ives said Apple is positioned to formally enter the AI arena in 2026, supported by stronger iPhone 17 momentum heading into the holiday period.
Wedbush noted improving December-quarter trends, including resilience in China, and said Apple is beginning to articulate a more comprehensive AI strategy. The shift follows the planned retirement of AI head John Giannandrea in 2026. He will be replaced by Amar Subramanya, a veteran AI researcher joining from Microsoft after a long tenure at Google.
The analysts expect Apple to announce a partnership with Google’s Gemini early next year, calling it a potential turning point for both companies. They estimate AI monetization could add $75 to $100 per share over time.
Wedbush said Apple shares still do not reflect an AI premium, creating what it views as an attractive entry point heading into 2026. The firm expects CEO Tim Cook to remain through at least 2027 to oversee the transition.
