① Wade Bush analyst Dan Ives (Dan Ives) raised Apple's target price from $250 to $275; ② He believes that artificial intelligence technology will drive iPhone demand into a new cycle; ③ He also said that Apple's upcoming Global Developers Conference (WWDC) is a critical moment for the company.
Will the iPhone usher in a new supercycle? Investment bank Wedbush (Wedbush) analyst Dan Ives (Dan Ives) is once again adamantly optimistic$Apple (AAPL.US)$and raised Apple's target price.
On Friday (5/24), Ives announced revisions to Apple's target price on social media X. He attributed this change to the anticipated surge in iPhone demand due to artificial intelligence technology within the Apple ecosystem.
“Raising our Apple price target from $250 to $275 reflects the imminent entry of iPhone demand into the iPhone 16 supercycle driven by artificial intelligence. Artificial intelligence technology built into the Apple ecosystem will add $30 to $40 per share to the company's value.”
Ives also emphasized that the upcoming Global Developers Conference (WWDC) is a critical moment for the company.
WWDC will be unveiled on June 10, local time, and operating systems such as iPadOS 18, iOS 18, macOS 15, and watchOS 11 will be launched. Among them, iOS 18 has received the most attention, because according to previous news, iOS 18 will integrate generative AI functions.
Positive signals
Just a few days ago, Ives hinted that the tech giant might take a turn. At the time, it was revealed that Apple and OpenAI would reach a potential partnership. Ives called this opportunity Apple's “growth revival.”
In April, Ives also pointed out that the “seeds” of Apple's recovery in the Chinese market have already been planted, and some patience is needed to cope with the temporary weakness. Ives's remarks are seen as a positive sign of Apple's future.
The potential of artificial intelligence in the tech industry has always been a hot topic of discussion among investors. Just this week, Steve Eisman (Steve Eisman), senior portfolio manager at Neuberger Berman Group (Neuberger Berman), also emphasized that Apple is a “hidden” role in the field of artificial intelligence, which has further increased interest in the company's artificial intelligence potential.
Eisman is famous for the movie “The Big Short” and is the prototype for the film. He is famous in the global investment community for successfully betting on subprime mortgage securities during the 2008 global financial crisis.
Editor/Jeffrey