According to the WiseMoney App, investment firm Baird raised Apple's target price from $200 to $240 and maintained its "outperform" rating. The company said that Apple has the opportunity to boost iPhone sales due to its artificial intelligence plan.

Analyst William Power said, "We estimate that almost 95% of iPhones worldwide, even if initially focused on the US, need to be upgraded at some point to take advantage of Apple's intelligence." "Of course, other Apple devices such as Macs and iPads will also benefit."

Power also noted that the upgrade rate for AT&T and Verizon users has been low, suggesting that consumers may be waiting for artificial intelligence to enter smartphones. Power added: "With the smartphone upgrade cycle extended for several years, resulting in more old iPhone users, more than 1 billion iPhone users worldwide may have an upgrade catalyst."

Therefore, Power raised his expected iPhone sales for fiscal year 2025 by about 20 million units, and currently expects iPhone revenue to reach $216.1 billion, a year-on-year increase of 9%, higher than the common expectation of 6%. Apple's expected revenue for the full year is $418.1 billion, with earnings per share of $7.30, higher than the previous expectation of $394.6 billion and $6.73 per share.

Apple is scheduled to announce its third-quarter results after the close on August 1. Analysts generally expect the company's third-quarter revenue to be $84.12 billion, with earnings per share of $1.33.