Wedbush ups Apple price target to $325

Apple is on the cusp of an artificial-intelligence-fueled “golden era of growth,” Wedbush analysts wrote in a note to clients Thursday as they raised their price target on the company to $325.
Mackenzie Tatananni for Barron’s:
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Analysts surveyed by FactSet have an average price target of $248.14 on Apple shares.
“We believe Apple is heading into a multi-year AI-driven iPhone upgrade cycle that is still being underestimated by the Street,” Wedbush wrote, nodding to the Dec. 11 release of Cupertino 18.2, the latest iPhone operating system. The update included features like AI emoji generation and “front and center ChatGPT integration in Siri.”
Hundreds of applications still in development will create a multi-billion-dollar annual revenue stream, Wedbush asserted. These apps, created “on top of the building blocks of Apple Intelligence,” will kickstart “a renaissance of growth in Cupertino over the next 12 to 18 months.”

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MacDailyNews Note: Wedbush believes Apple is on pace for a historic upgrade cycle, with an estimated 300 million active iPhones that haven’t been upgraded in more than four years. The firm believes Apple could sell some 240 million iPhone units in fiscal 2025 which would be the highest iPhone sales year in the company’s history.

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