Wedbush has a $350 price target on the stock. The question is whether WWDC delivers what last year's didn't.
Apple Inc (NASDAQ:AAPL, XETRA:APC) marks its 50th anniversary on April 1, and Wall Street is focused on what comes next more than what came before.
Wedbush analyst Dan Ives maintained an 'outperform' rating on the stock this week, with a $350 price target against a current share price of $252.89. The thesis rests less on the milestone than on two near-term catalysts: a hardware cycle loaded with AI-capable devices, and a WWDC in June that Apple cannot afford to flub again.
Five decades, one installed base
Apple was founded in 1976. It has since sold 1.5 billion iPhones and built an ecosystem of 2.5 billion iOS devices worldwide. The company that nearly went bankrupt in the late 1990s is now the largest publicly traded company in the world.
Its model diverged from rivals early. Where others sold hardware, Apple controlled the entire stack: chips, software, retail, and services. That decision built the competitive position that still defines the company today.
A hardware year
Wedbush describes 2026 as a significant product launch year. Apple has already announced new devices with stronger processors and expanded memory, both designed to run AI applications on-device.
Supply chain checks suggest the company is in late development on a foldable iPhone, expected alongside the iPhone 18 in September. A touchscreen MacBook is also circulating as a rumour, aimed at developers who want to test apps directly on the display.
Each adds to hardware revenue. None resolves the bigger question.
What WWDC has to answer
Apple's developer conference last year produced a visual design update called Liquid Glass and no meaningful AI announcement. Investors took note.
This June, Wedbush expects Apple to detail the Siri overhaul pulled from last year's schedule. The updated assistant is expected to use Google's Gemini as its foundation model, with better personal context, improved on-screen awareness, and tighter integration across third-party apps.
New developer tools and updated APIs are also expected, built around on-device intelligence and Apple's established privacy architecture. Wedbush projects an AI subscription service by 2027.
The numbers
Wedbush forecasts Apple's full-year revenue at $461.5 billion for fiscal 2026, up from $416.2 billion in 2025. Earnings per share are projected at $8.50, against $7.46 last year. The $350 price target implies roughly 38% upside from current levels.
The stock trades at 29.8 times forward earnings on those estimates.
Where the risk sits
Wedbush flags competition in China, tariff exposure, and the pace of services penetration across the installed base as the main risks to its thesis. The iPhone product cycle, as ever, remains the central variable.
Apple has 50 years of product launches behind it. June's developer conference will determine whether the AI chapter investors have been waiting for finally arrives.