Apple's $350 Price Target Flags 38% Upside with AI Hardware and Siri Revamp
Wedbush analyst Dan Ives maintained an outperform rating on Apple with a $350 price target, implying about 38% upside from current levels. He cites a 2026 hardware cycle of AI-ready devices and expects a significant Siri overhaul announcement at June’s WWDC.
1. Analyst Rating and Price Target
Wedbush analyst Dan Ives maintained an outperform rating on Apple with a $350 price target, implying about 38% upside from current levels. This view underscores confidence in Apple’s near-term catalysts and resilient business model.
2. 2026 AI Hardware Cycle
The firm highlights a product year loaded with AI-ready devices sporting stronger processors and expanded memory for on-device machine learning. Rumors include a foldable iPhone debuting alongside the iPhone 18 in September and a touchscreen MacBook designed for developer testing.
3. Siri Overhaul at WWDC
Investors expect a major Siri upgrade at June’s WWDC leveraging Google’s Gemini foundation model for richer personal context, improved on-screen awareness and tighter third-party app integration. New developer tools and APIs will emphasize on-device intelligence within Apple’s privacy framework.
4. Financial Projections
Fiscal 2026 revenue is projected at $461.5 billion, up from $416.2 billion in 2025, while EPS is forecast to rise to $8.50 from $7.46. These estimates translate to a 29.8 times forward earnings multiple, reinforcing the bullish price target.