Apple is expected to exceed analyst expectations for its fourth quarter, thanks to unexpectedly high demand for the iPhone 17 lineup, according to a report from investment firm Wedbush. The firm also predicts that Apple’s stock will continue to rise in value if the company makes the right moves in its AI plans and partnerships.
Wedbush recently raised its target price for Apple to $310, citing the strong demand for the iPhone 17 lineup. In a new note to investors, the company expresses confidence that Apple will not only meet this target but will also see its stock price increase over the next few years, particularly due to AI advancements.
The investment firm anticipates that Apple will surpass market expectations when it announces its fiscal Q4 earnings, highlighting stronger-than-expected demand in China and the United States for the current iPhone 17 models. Despite challenges in delivering on Apple Intelligence promises, the analysts note sustained high demand for the devices.
Wedbush remains optimistic about Apple’s future, even amidst increased competition and challenges. The firm believes that Apple’s stock could see a significant rise in the coming years if the company successfully executes its AI-related plans.
In addition, the ongoing partnership between Google and Apple, which allows Google to be the default Safari search engine on iPhones, is expected to support Apple’s AI ambitions. The recent court ruling upholding this partnership further strengthens Apple’s position.
Apple’s strategic focus on AI, including partnerships with OpenAI and potential future collaborations with Google Gemini, indicates a strong commitment to innovation and growth. The company’s stock recently reached an all-time high, demonstrating resilience in navigating market challenges.
Counterpoint Research reports that the iPhone 17 models have outperformed their predecessors in early sales, with strong demand in key markets like China and the US. Apple’s ability to offer value across its product range has contributed to this success, particularly with the base iPhone 17 and the Pro Max models.
In China, the improved features and competitive pricing of the iPhone 17 have resonated with consumers, leading to a surge in sales. Despite a competitive landscape, Apple has found a balance between performance and price, appealing to price-conscious Chinese buyers.
In the US, the iPhone 17 Pro Max has seen rapid sales growth, supported by attractive subsidies from major cellular providers. If these trends continue, Wedbush’s optimistic outlook for Apple’s iPhone 17 lineup could prove accurate, positioning it as a standout performer in the market.
