Financial analysts at Wedbush have always been bullish on Apple, but they have now raised its target price from $50 to $400, achieving its biggest increase in at least five years.
In April 2025, when Trump’s tariffs were first imposed, Wedbush cut his Apple price target from $325 to $250, but this was a rare cut. Today, it saw an equally significant increase, taking its price target from $350 set in December 2025 to $400.
This is the highest price target ever set for Apple by an investment firm, and in a note to investors seen by woozadthe company’s analysts attribute it largely to AI. They believe that what Apple reveals at WWDC 2026 in June will lead to about a fifth of the world’s population using AI through Apple devices over the next few years.
Key to this belief is the recent announcement that Apple’s upcoming iOS 27 will offer users the ability to choose between several different AI models. Wedbush also expects that hundreds of AI-based applications will eventually benefit from improvements to Apple Intelligence.
Although the $50 target increase is the largest Wedbush has made since at least 2021, the company has consistently predicted that 2026 will be a big year for Apple Intelligence. He also previously predicted that Apple would charge for certain AI features, and his latest report doubles that figure.
Wedbush expects Apple to monetize its AI services over the next few years. Including its China partnership with Alibaba, Wedbush predicts that Apple’s AI monetization could earn it $15 billion per year.
The investor note doesn’t say much more about China, other than that Apple’s AI partnership is part of it and aims to significantly increase its user base in the country. During Apple’s latest earnings conference call, Tim Cook noted that he was “thrilled” with how the company had seen “strong double-digit growth in Greater China.”
In that same call, Cook also emphasized that with Apple Intelligence, “it’s not about AI as a standalone feature, but AI as an essential, intuitive part of the experience on our devices.” This fits with Wedbush’s belief that Apple will become what he calls the consumer center of AI.
CEO handover and WWDC
These expectations around AI aren’t the only reasons Wedbush is increasing its price target, however. The company’s analysts also expect new CEO John Ternus to have an impact on Apple’s hardware developments.
Wedbush believes that WWDC 2026 will be particularly important, but is already describing it as a golden age for Apple.
Most analysts were positive on Apple after its recent earnings announcement, but Wedbush appears to be the first to raise its price target.
WWDC 2026 takes place during the week of June 8-12, with the focus still on the keynote.