Wedbush Raises Apple Price Target to Street-High $400

Wedbush raised its price target on Apple (NASDAQ: AAPL) to $400.00 (from $350.00), a new Street High, citing the company’s entry into the AI Revolution.

“We believe over the next few years Apple will be able to monetize the AI Services and storage features translating into what could be an additional $15 billion of annual services revenue for Apple as it starts to become the ‘consumer hub of AI’ technology for its global user base.

In China despite Beltway scrutiny we believe Apple’s partnership with Alibaba on AI will become more important as Cupertino goes after its massive and growing installed base in China.

These are all incremental steps leading to an AI enabled Apple iPhone likely with significant redesigns in 2027 on the 20th anniversary edition.”

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