Wedbush Analysts See 38% Rally Ahead for Apple (AAPL) Stock with $350 Price Target

Key Takeaways

• Wedbush Securities maintains its Outperform stance on AAPL, setting a $350 price objective that suggests approximately 38% potential gains.
• Analysts anticipate 2026 will mark a significant product cycle year, featuring the debut of a foldable iPhone alongside the iPhone 18 this September.
• The upcoming WWDC 2026 conference (June 8–12) is projected to unveil Apple’s comprehensive AI vision, featuring enhanced Gemini collaboration and Siri improvements.
• Apple’s latest earnings revealed $2.84 EPS (exceeding estimates by $0.17) with revenue reaching $143.76B, marking a 15.7% year-over-year increase.
• Reports indicate Apple plans to enable third-party AI assistants within Siri, including Google Gemini and Anthropic Claude.

Renewed Wall Street enthusiasm surrounds Apple following Wedbush Securities’ Friday reaffirmation of its Outperform designation alongside a $350 price objective — suggesting potential gains of approximately 38% from current trading levels.

Apple Inc., AAPL

Wedbush’s research team characterizes 2026 as a pivotal product launch year for the tech giant. Analysts identify accelerating demand for artificial intelligence-enabled devices as the primary catalyst behind Apple’s hardware portfolio expansion.

Central to this strategic refresh is the anticipated foldable iPhone. According to Wedbush, supply chain intelligence indicates Apple has reached advanced development phases for this device, with a September launch window alongside the iPhone 18 series.

The research note also highlighted a potential touchscreen-equipped MacBook. This would represent uncharted territory for Apple, designed primarily to assist developers in testing and optimizing application performance. Multiple Mac releases are rumored throughout the year.

Apple has maintained an aggressive pace throughout early 2026. Product announcements have included the iPhone 17e, updated iPad Air models, fresh MacBook Air and MacBook Pro configurations, Studio Displays, the MacBook Neo, and second-generation AirPods Max.

Apple’s Developer Conference Expected to Spotlight AI Strategy

Industry attention now shifts toward Apple’s Worldwide Developers Conference, slated for June 8 through June 12, with the opening keynote beginning at 1 p.m. EST on June 8.

Wedbush anticipates Apple will utilize this platform to articulate a comprehensive artificial intelligence strategy — something conspicuously absent from last year’s gathering. The firm characterized the 2025 WWDC as underwhelming, suggesting Apple faces mounting expectations to deliver meaningful announcements.

Anticipated revelations include expanded Gemini partnership details, with Google providing foundational AI model support. A substantially upgraded Siri featuring improved contextual understanding and enhanced on-screen recognition is also expected.

In a related development, Apple reportedly intends to allow external AI assistants access to Siri, encompassing both Gemini and Anthropic’s Claude. This strategic pivot from an exclusive ChatGPT arrangement positions the iPhone as a versatile AI platform.

Strong Quarterly Performance Supports Optimistic Outlook

Apple’s latest financial results provided substantial validation for bullish projections. The technology leader delivered $2.84 earnings per share, surpassing the $2.67 Street consensus, while generating $143.76 billion in revenue — representing 15.7% year-over-year growth.

Net profit margin reached 27.04%, accompanied by return on equity of 159.94%. Wall Street forecasts now project $7.28 full-year EPS.

The Street consensus reflects a Moderate Buy rating, with an average price objective of $297.58. The breakdown includes 1 Strong Buy, 22 Buy, 12 Hold, and 1 Sell rating.

Citigroup maintains a $315 objective, Morgan Stanley holds a $315 target with Overweight designation, and Royal Bank of Canada carries a $325 target. Moffett Nathanson applies a Neutral stance with a $270 price point.

Institutional ownership accounts for 67.73% of outstanding AAPL shares. Multiple funds expanded positions during Q4, including First National Bank of Hutchinson, which increased holdings by 24.6%, and Brighton Jones, which added 14.8%.

AAPL’s 52-week trading range spans from $169.21 to $288.62. The equity’s 50-day moving average rests at $260.37, with the 200-day average positioned at $262.40.

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