Overview
- Wedbush maintained an Outperform rating with a new $350 target, implying roughly 26% upside from recent trading levels.
- Analysts say iPhone 17 demand is running ahead of expectations into year‑end, with China a bright spot where October iPhone shipments rose 37% year over year and accounted for about one in four smartphones sold.
- Apple confirmed that longtime AI chief John Giannandrea will step down as Amar Subramanya, an external hire with deep Google and Microsoft experience, takes over machine learning and AI strategy.
- Wedbush expects Apple to announce a Google Gemini partnership in early 2026 and reports plans for an AI‑powered Siri by mid‑2026, characterizing both as potential accelerants to the company’s AI push.
- The firm estimates AI monetization could add $75 to $100 per share over time and says no AI premium is currently reflected in the stock, though it flags regulatory delays in China that could slow local AI feature rollouts.