Wedbush has lifted its price target on Apple Inc (NASDAQ:AAPL, XETRA:APC) to $350 from $320, arguing that 2026 is shaping up to be a pivotal year in which the company finally joins the front rank of the artificial intelligence race.
In a detailed note, the broker says strong iPhone 17 sales, including in China, point to Apple outperforming revenue expectations for the December quarter and heading into the new year with momentum.
Behind this, though, sits what Wedbush views as the more important development: a clear and commercially meaningful AI roadmap taking form for the first time in years.
Central to this shift is a major reshuffle in Apple’s AI leadership. John Giannandrea, who has guided machine-learning strategy since 2018, is stepping down.
His replacement is Amar Subramanya, a widely respected AI researcher who previously held senior roles at Microsoft and Google’s DeepMind.
Wedbush sees this as a sign that Apple is moving out of its defensive posture and preparing a more aggressive push into on-device AI, foundation models and a revamped Siri expected to debut by mid-2026.
The analysts argue that Subramanya’s arrival injects fresh expertise and culture into an area where Apple has delivered little this year.
The broker’s “moment of truth” arrives early next year, when it expects Apple to formalise a deep partnership with Google’s Gemini models for advanced AI features across its ecosystem.
The recent Department of Justice ruling in Google’s favour clears a regulatory path for such integration, and Wedbush believes the partnership could reshape Apple’s AI offering and unlock significant monetisation potential.
The firm estimates that successfully layering AI services across Apple’s user base (2.4 billion active devices and 1.5 billion iPhones) could add between 75 and 100 dollars a share to the value of the company over time.
Wedbush stresses that Apple’s current valuation still does not include any premium for AI.
With investors having spent much of 2025 waiting for clarity, the analysts argue that Apple is now positioned for a re-rating as the company shows a willingness to overhaul its strategy, bring in external talent and establish high-profile partnerships.
The broker maintains its 'outperform' rating and places Apple among its “AI 30” winners, adding that Tim Cook is likely to stay on as chief executive through at least 2027 to steward the transition.
With iPhone demand resilient and a long-delayed AI roadmap finally emerging, Wedbush sees 2026 as the year Apple closes the gap with rivals and begins to monetise its vast user base in new ways.