Analyst Daniel Ives at Wedbush Securities raised his price target for Apple stock to 325, the highest on Wall Street, citing a potential multiyear AI-driven iPhone upgrade cycle. The analyst believes Apple is on the cusp of a “golden era” of growth, driven by its artificial intelligence strategy.
Ives points to the recent launch of the iPhone 16 smartphone family and the addition of AI features in software updates as key catalysts for this growth narrative. He expects a wave of AI apps to accelerate Apple services revenue and catalyze iPhone upgrades over the next 12-18 months.
Meanwhile, BTIG analyst Jonathan Krinsky expressed caution on Apple stock heading into January, citing historical trends of negative one-month forward returns following streaks of consecutive weekly gains of 2% or more. Despite this, year-to-date performance has seen Apple stock soar over 34%.
Source: https://www.investors.com/news/technology/apple-stock-analyst-golden-era-of-growth