Apple price target boosted by Wedbush on AI monetization expectations
Last updated: 13:45 08 May 2026 EDT, First published: 13:35 08 May 2026 EDT
Apple Inc (NASDAQ:AAPL, XETRA:APC) is entering a potential new growth phase driven by artificial intelligence, according to Wedbush analysts, who raised their 12-month price target from $350 to $400 and maintained an ‘Outperform’ rating.
This implies upside from current levels of $292.
Wedbush wrote that “the AI time has come for Apple,” arguing that consumer AI monetization is now beginning and estimating that roughly 20% of the global population could access AI through an Apple device over time.
The firm characterized Apple as a “sleeping tech giant about to see a major inflection point in growth,” as it prepares to unveil its AI strategy at WWDC in June.
According to Wedbush, Apple is expected to build a foundational consumer AI platform that could integrate multiple large language models into its ecosystem.
The firm wrote that Cupertino could enable users to integrate Google’s Gemini model into Apple hardware, while also expanding existing partnerships such as OpenAI’s ChatGPT integration.
It added that future software updates, including iOS 27, could allow users to select preferred AI models for Apple Intelligence features across devices.
Wedbush also noted that “iOS 27 will let Apple’s 2.5 billion iOS users set whatever their preferred AI model as the default,” describing this as a key step toward broader LLM integration across the Apple ecosystem. The firm expects this to support a wave of AI-enabled applications across health, finance, fitness, and lifestyle categories within the App Store.
On monetization, Wedbush estimates AI and related services could generate an additional $15 billion in annual revenue over time, as Apple positions itself as the “consumer hub of AI technology” for its global installed base.
The firm also pointed to Apple’s partnerships in China, including work with Alibaba, as an incremental driver of AI adoption in that market.
Wedbush further suggested that AI monetization and services could ultimately add $75 to $100 per share in value, arguing that this upside is not yet reflected in Apple’s valuation.
The note also highlighted leadership and hardware innovation under new CEO John Ternus, describing him as a “thought leader that also understands the Apple DNA extremely well.”
Wedbush wrote that innovation in areas such as foldable devices, AI-enabled smartphones, and new wearable form factors, including Apple Glasses, will be central to Apple’s next phase of growth.
The firm concluded that Apple’s upcoming WWDC event represents a key inflection point, writing that “it all starts at WWDC in June,” as the company begins what Wedbush sees as a transition into a new AI-driven era.
