Wedbush says Apple’s AI glow-up is next

New sheriff, same Cupertino?

Wedbush’s Dan Ives thinks Apple’s post-Tim Cook era could be way more than a routine succession story. In his telling, incoming chief John Ternus isn’t just inheriting the most valuable gadget empire on Earth — he’s walking into a chance to make Apple a lot more aggressive, especially on AI and acquisitions.

From ‘buy small’ to big swing energy

For years, Apple has acted like the quiet kid in the group project: plenty of cash, very selective about joining the chaos. Ives wants that to change. He argues Apple should stop tiptoeing around the AI arms race and use its war chest to make bolder deals, especially as Alphabet and Meta keep throwing elbows in the space.

The real prize: monetizing the iPhone army

The bullish thesis here isn’t just “Apple should do more stuff.” It’s that Apple has 2.2 billion iOS devices sitting in people’s pockets, backpacks, and couch cushions. If Ternus can turn that installed base into a recurring AI revenue stream, Apple could become a sort of toll collector on the consumer AI highway — and investors tend to like toll booths when they’re on a scale this ridiculous.

WWDC is the next checkpoint

Ives is also eyeing WWDC in June as the moment Apple has to show its cards. If the company can connect the dots between AI features, hardware upgrades, and services revenue, the market may decide this isn’t just a CEO shuffle — it’s the start of a more aggressive Apple.

Big picture: Apple’s giant strength has long been discipline. The bet now is that a little less discipline, and a lot more AI muscle, could be the next big stock story.