Apple’s Gemini Tie-Up Earns Praise as Wedbush Sets $350 Target
Apple remains the sole mega-cap tech firm without major AI infrastructure investment, opting instead to integrate Google’s Gemini, a strategy Jim Cramer dubs “the greatest free ride.” Wedbush maintained an Outperform rating with a $350 target on February 17, while Evercore upheld its $330 target on February 11 as shares climbed 10% over the past year and traded flat year-to-date.
1. Cramer Endorses Google Partnership
Jim Cramer highlighted Apple’s decision to forego building its own AI infrastructure and instead leverage Google’s Gemini, calling it a “masterstroke” that delivers significant cost savings and technology access.
2. Analyst Ratings Reaffirmed
On February 17, Wedbush kept its Outperform rating and $350 target, arguing the recent share pullback was unwarranted; earlier on February 11, Evercore ISI reiterated an Outperform rating with a $330 target, citing potential delays in Apple Intelligence 2.0 tests.
3. Share Performance Update
Apple’s stock has risen 10% over the last 12 months and remains flat year-to-date, reflecting investor confidence in the company’s strategic AI partnerships despite limited in-house infrastructure spending.