Wedbush Raises Apple Price Target to Record $350, Anticipates AI Mac to Fuel Next Growth Phase

Deep News03-06 22:26

On Friday, Apple stock attracted investor attention after Wedbush Securities increased its price target for the iPhone maker to $350. This adjustment is based on anticipated gains from new Mac products focused on artificial intelligence.

Wedbush analyst Daniel Ives maintained an "Outperform" rating, stating the new target implies approximately 34% upside from recent trading levels. The firm noted that Apple is expanding its Mac lineup with the latest M5 chips, designed to enhance performance for AI-related tasks while offering faster memory and longer battery life.

The updated product portfolio includes new MacBook Air and MacBook Pro models, as well as a new, lower-priced MacBook Neo. This entry-level device starts at $599 and appears aimed at attracting more price-sensitive consumers while supporting on-device AI capabilities.

Wedbush stated that a broader product line could help Apple expand its user base by appealing to both premium and entry-level market segments. The firm also highlighted that a significant portion of Mac buyers are first-time users, indicating the platform continues to bring new customers into Apple's broader ecosystem of devices and services.

The analyst added that as market demand for AI-driven computing tools grows, combining AI-capable hardware with a wider range of price points could support sustained growth in Mac sales.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment