Apple Enters AI Revolution as WWDC Key for Cupertino
Dan Ives, Global Head of Tech Research at Wedbush, expressed optimism about Apple's prospects in the AI revolution. In a post on X, Ives stated that the upcoming Worldwide Developers Conference (WWDC) in June will be key for Apple.
Wedbush has raised its price target for Apple to $400 from $350, implying an upside of nearly 40% from current levels. This reflects the potential of Apple's new AI age, which Ives estimates will enable Cupertino to get into the AI Revolution. He also stated that roughly 20% of the world's population will access AI through an Apple device over the coming years.
Apple shares were up nearly 1% in Friday's pre-market trade after hitting a new 52-week high on Thursday. Wedbush maintains its 'Outperform' rating on AAPL, calling Apple a 'sleeping tech giant' that is about to see a major AI inflection point.