Wedbush Analysts Predict 50% Upside for Apple Stock in Anticipation of Upcoming Super Cycle
Friday, 24 May 2024, 08:25
Overview
Analysts at Wedbush have revised their price target for Apple (NASDAQ: AAPL) stock from $250 to $275, foreseeing a 50% upside driven by the anticipated iPhone 16 supercycle supported by AI technology.
Positive Developments
- Apple's value has increased slightly above the initial $185.64 since the beginning of 2024.
- Expectations are high for the introduction of new products like iOS 18, updated Macbooks, and collaboration with OpenAI at WWDC.
- Wedbush analyst Dan Ives expects the Apple ecosystem's AI technology to add $30 to $40 per share, representing a 47% potential upside.
Renewed Optimism
- Wedbush sets a price target of $275 for AAPL stock in a renewed optimistic outlook.
- Analyst Dan Ives believes the iPhone 16 supercycle will be a significant growth driver for Apple, potentially leading to substantial gains.
- Renowned investor Steve Eisman advocates for Apple's AI strategy, foreseeing major growth opportunities for the company.
Overall, the positive sentiment around Apple, combined with the upcoming product launches and market endorsements, suggests a promising outlook for the stock's performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.