Apple: Wedbush Securities raises its price target

(CercleFinance.com) - Wedbush Securities announced on Tuesday that it had raised its price target for Apple from $285 to $300, expressing optimism about the launch of the new iPhone 16.


The American broker, which maintains its 'outperform' rating on the stock, says it expects the device to be quite simply the most successful launch in the group's history, thanks to the integration of a whole range of AI-related functionalities.

According to the broker, the emergence of these personalization capabilities, which promise to evolve the way users interact with their smartphones, should reinvigorate sales of the handset.

Wedbush expects iPhone sales to grow by between 5% and 10% over the next 12 to 18 months.

Given that some 300 million iPhones have not been renewed in the last four years, Apple could sell more than 240 million iPhones in fiscal 2024/2025.

In such a context, the professional estimates that market capitalization could exceed the $4,000 billion mark as early as next year, compared with around $3,300 billion today.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.