Wedbush analyst Daniel Ives raised the firm’s price target on Apple (AAPL) to Street-High of $325 from $300 and keeps an Outperform rating on the shares. The firm believes Apple is heading into a multi-year AI-driven iPhone upgrade cycle, which is still being underestimated by the Street. Furthermore, Wedbush sees a growth catalyst from a new multi-billion annual services revenue stream from apps built around AI, along with catalyzing iPhone upgrades across the board over the next 12 to 18 months.
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