Analysts are boosting their price targets for Apple’s stock after the iPhone 17’s strong launch and early demand that suggests a “magical formula” is at work, according to Wedbush. The iPhone 17 is outpacing last year’s sales by 10-15%, with supply checks indicating a 20% increase in production for base and Pro models. This upgrade cycle could drive higher sales estimates, with some firms now forecasting up to 250 million units sold in FY26. Despite challenges in China, preorders jumped in India and the US, while carriers offer trade-in promotions to soften sticker prices. Apple’s stock has risen 6% over the past five days, driven by Wedbush’s bullish call on AI monetization, which could add $75-$100 per share to the company’s story.
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Source: https://qz.com/apple-iphone-17-pro-air-price-target-hike-wedbush-china