Apple Inc (NASDAQ:AAPL, ETR:APC) super fan Wedbush has raised its price target for the iPhone maker to US$325 from US$300, arguing a new 'Golden-era’ of growth is nigh.
“We believe Apple is heading into a multi-year AI-driven iPhone upgrade cycle that is still being underestimated by the Street. “
The investment bank added: "We estimate that with hundreds of apps in development around Apple Intelligence that in essence creates a new multi-billion annual Services revenue stream will be another growth catalyst along with catalysing iPhone upgrades across the board over the next 12 to 18 months.
“We believe Apple is on pace to reach the $4 trillion market cap threshold and be the first member of this exclusive club."
'Outperform' is the investment view.
Shares rose 0.3% to US$259.02 in pre-open trading.
Anything north of US$264 should be enough to hit the US$4 trillion landmark, which would be a first for any company.