Wedbush raises Apple price target to $400, citing AI distribution through 20% of world population over coming years

Wedbush Securities raised its Apple price target from $350 to $400, with analyst Daniel Ives maintaining an Outperform rating. The new target exceeds the $303.38 consensus analyst target.

Ives argues Apple's installed base of iPhones, iPads, Macs, Apple Watches, AirPods, and Vision Pro positions it as the default interface for consumer AI adoption. Apple's privacy-first, on-device approach is paired with third-party model partnerships including OpenAI and rumored expansions to Google Gemini.

Apple's Q2 FY2026 revenue rose 17% year over year to $111.18 billion, with diluted EPS of $2.01 beating the $1.94 consensus—the eighth consecutive quarterly beat. Services set an all-time record at $30.98 billion with a 77% gross margin.