Apple (AAPL) Stock Eyes 38% Upside as Wedbush Backs $350 Target
TLDR
Wedbush reiterated its Outperform rating on AAPL with a $350 price target, implying ~38% upside from current levels.
The firm says 2026 is shaping up as a big product launch year, with the iPhone Fold expected alongside the iPhone 18 in September.
WWDC 2026 (June 8–12) is expected to deliver Apple’s long-awaited AI strategy, including a deeper Gemini integration and a revamped Siri.
Apple’s last quarter showed $2.84 EPS (beat by $0.17) and $143.76B in revenue, up 15.7% year-over-year.
Apple is also reportedly opening Siri to outside AI assistants, including Google’s Gemini and Anthropic’s Claude.
Apple is drawing fresh attention from Wall Street after Wedbush Securities reiterated its Outperform rating with a $350 price target on Friday — a level that would represent roughly 38% upside from where the stock is trading now.
Apple Inc., AAPL
The firm’s analysts say 2026 is shaping up as a major product year for the Cupertino company. They point to growing demand for AI-capable hardware as the key driver pushing Apple to refresh its lineup.
At the center of that refresh is the rumored iPhone Fold. Wedbush says supply chain checks suggest Apple is in the later stages of developing the device, which is expected to launch alongside the iPhone 18 in September.
The analysts also flagged a possible touchscreen MacBook. That would be a new category for Apple, aimed at helping developers test and improve app functionality. It’s one of several Mac products rumored to arrive later this year.
Apple has already been busy in 2026. The company announced the iPhone 17e, a refreshed iPad Air, new MacBook Air and MacBook Pro models, Studio Displays, the MacBook Neo, and the AirPods Max 2.
WWDC 2026 Set to Be AI-Heavy
All eyes are now on Apple’s Worldwide Developers Conference, scheduled for June 8 to June 12, with a keynote kicking off at 1 p.m. EST on June 8.
Wedbush expects Apple to use the event to lay out a clear AI roadmap — something the company notably did not deliver at last year’s WWDC. The analysts describe 2025’s event as a “yawner,” and say Apple is under pressure to show up with substance this time.
That’s expected to include details on a deeper Gemini integration, with Google powering Apple’s foundation AI model. A more capable Siri — with better personal context and on-screen awareness — is also on the agenda.
In a separate move, Apple is reportedly planning to open Siri to outside AI assistants, including Gemini and Anthropic’s Claude. That marks a shift away from its exclusive ChatGPT tie-up and positions the iPhone as a broad AI distribution platform.
Recent Results Back the Bull Case
Apple’s most recent quarter gave analysts plenty to work with. The company posted $2.84 EPS, beating the $2.67 consensus, on revenue of $143.76 billion — up 15.7% year-over-year.
Net margin came in at 27.04%, with a return on equity of 159.94%. Sell-side analysts now expect $7.28 EPS for the full fiscal year.
Analyst consensus sits at a Moderate Buy, with an average price target of $297.58. Ratings break down as 1 Strong Buy, 22 Buy, 12 Hold, and 1 Sell.
Citigroup has a $315 target, Morgan Stanley sits at $315 with an Overweight rating, and Royal Bank of Canada has a $325 target. Moffett Nathanson carries a Neutral with a $270 target.
Institutional investors hold 67.73% of AAPL. Several funds added to positions in Q4, including First National Bank of Hutchinson, which grew its stake by 24.6%, and Brighton Jones, which added 14.8%.
AAPL’s 52-week range runs from $169.21 to $288.62. The stock’s 50-day moving average sits at $260.37, while its 200-day average is $262.40.
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Filed under: News - @ March 27, 2026 2:28 pm