Wedbush analysts view Apple Inc (NASDAQ:AAPL, ETR:APC) as a “compelling” large cap tech stock to own into year-end and 2026, believing no "AI premium" is factored into the company’s current stock price.
In a note to clients on Tuesday, the analysts maintained their ‘Outperform’ rating and $310 per share target price on Apple stock, believing the “AI monetization piece could add $75 to $100 per share to the Apple story over the coming few years.”
They stated that Apple could surpass the Wall Street consensus revenue estimate of about $102 billion for its fourth quarter given the strength of the iPhone 17 cycle, while also expecting the company to beat expectations on results from its Services segment.
The Wedbush equity research team expects Apple’s financial results to reflect a rebound in iPhone sales across the US and China.
“We believe that the Street is still underestimating the iPhone 17 cycle that we are seeing front and center with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last four years," the analysts wrote.
Apple shares were up around 0.6% on Thursday afternoon ahead of earnings.