Apple Eyes $350 Target as AI Hardware, WWDC Upgrades and $600B US Supply Push
Wedbush kept an outperform rating on Apple with a $350 target, citing 2026 AI-capable device launches, a foldable iPhone and a Siri overhaul using Google's Gemini at WWDC. Apple added Cirrus Logic, Bosch, Qnity Electronics and TDK to its $600 billion American Manufacturing Program to strengthen domestic supply.
1. Wedbush Maintains $350 Price Target
Wedbush upheld an outperform rating on Apple with a $350 target versus the $252.89 share price, implying roughly 38% upside. The firm forecasts fiscal 2026 revenue of $461.5 billion and EPS of $8.50, up from $416.2 billion and $7.46 in fiscal 2025, valuing shares at 29.8× forward earnings.
2. WWDC to Showcase AI Upgrades
Apple enters its 50th year focusing on AI with on-device processing. WWDC in June is expected to unveil a Siri overhaul built on Google's Gemini model, new AI developer tools and on-screen awareness features, with an AI subscription service projected by 2027.
3. Bolstering Domestic Supply Chain
The company recruited Cirrus Logic, Bosch, Qnity Electronics and TDK into its $600 billion four-year American Manufacturing Program. This expansion aims to improve component development, high-tech production and supply resilience within the U.S., reducing geopolitical risks.