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03-06

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Wedbush Remains Bullish on Apple , "Brighter Days Will Be Ahead"

Despite Apple (NASDAQ:AAPL) shares continuing to decline, analysts at Wedbush continue to remain bullish on the stock.The firm said Tuesday that the current sentiment is "dismal" with China headwinds

Wedbush Remains Bullish on Apple , "Brighter Days Will Be Ahead"

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Firstly, they believe the current iPhone estimates for 2024 remain hittable with 2025 Street estimates conservative.They also feel that pent-up demand around an upgrade cycle could exceed 270 million iPhones heading into iPhone 16. At the same time, \"Services remains rock solid with double-digit growth and a key to the valuation support.\"Analysts also said that \"AI is finally coming to Apple in the form of new App Store enhancements and built into iPhone 16 based on the firm's research in the field. Wedbush also notes that Apple \"has the strongest installed base of any company in the world with 2.2 billion iOS devices and the next phase of monetization is on the horizon.\"\"In our view, brighter days will be ahead for Apple, although right now, the China story remains the dark cloud over the name in the near term,\" analysts at Wedbush stated.Wedbush reiterated his \"Outperform\" rating and $250 price target, which represents potential upside of 47% from current levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":475,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":16,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}