Apple Receives Street-High $400 Target, Driven by Wedbush AI Optimism

Wedbush increased its price target for Apple Inc. (AAPL) to $400 from $350.

This valuation represents the highest target currently on Wall Street.

Analysts identified Apple’s strategic move into artificial intelligence as the primary growth driver.

The firm describes Apple as a sleeping tech giant approaching an AI inflection point ahead of the Worldwide Developers Conference (WWDC).

Wedbush projects AI features will generate $15 billion in new annual services revenue.

The firm estimates 20% of the global population will access AI through Apple hardware.

Apple shares rose following the price target increase.