AAPL
BABA
Apple’s AI glow-up
Wedbush just pushed its Apple price target from $350 to $400 and kept the stock on Outperform, basically saying: the “Apple is old news” crowd may want to sit down. The firm thinks Cupertino is heading into a fresh growth stretch as AI turns the iPhone into something closer to a command center for your digital life.
Why the bulls are suddenly extra chatty
The analysts are pitching Apple as the “consumer hub of AI,” which is a fancy way of saying the company could become the place where a huge chunk of AI usage actually happens. Wedbush estimates that Apple’s AI push could unlock about $15 billion in additional annual services revenue and ultimately add $75 to $100 to the stock over time.
They also pointed to WWDC in June as a key checkpoint for Apple’s AI platform ambitions. The roadmap they’re sketching includes Google’s Gemini, support for ChatGPT and Claude, and a future iOS setup where users can pick preferred AI models like they’re choosing a default browser, only with more existential dread.
China, hardware, and the Ternus era
The note also leaned into Apple’s partnership with Alibaba for the China market, which Wedbush sees as another step toward an AI-enabled iPhone. And in classic Wall Street fashion, the analysts are already looking past Tim Cook toward John Ternus, framing him as the hardware-heavy successor who could drive the next wave of foldables, AI phones, and maybe even a more affordable Apple Glasses story.
Big picture
Apple doesn’t exactly need another hype cycle, but here we are. If Wedbush is right, the company’s next chapter isn’t just about selling more devices — it’s about turning those devices into the front door for AI, services, and a whole lot more investor enthusiasm.