Wedbush analyst Daniel Ives would characterize demand for iPhone 16 so far since its September launch as slightly ahead to generally in line with expectations globally. The firm believes Apple (AAPL) is set to have a strong holiday season ahead as iPhone 16 upgrades across its installed base are trending well into Christmas based on its recent Asia supply chain checks. Importantly, Apple Intelligence has not rolled out in China or many other countries with April the likely timetable for these AI launches along with a Chinese tech partner also named very soon to catalyze the timing of this rollout in this key region. Wedbush maintains its Outperform rating and $300 price target and says it believes Apple is on pace to reach the $4 trillion market cap threshold by early 2025 and be the first member of this exclusive club.
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