① Renowned technology analyst Dan Ives downgraded Apple's stock price on Monday. The target price has been raised to $350, approximately 26% higher than the current level; ② Ives believes that 2026 will be the year Apple truly enters the era of artificial intelligence. A revolutionary year; ③ He also expressed his belief that iPhone 17 sales would remain strong until the end of the year, with the Chinese market performing equally well.
Dan Ives, managing director and renowned technology analyst at Wedbush Securities, raised his target price for Apple to $350 on Monday, about 26% higher than the current level .
Apple shares fell 0.68% to $278.78 on Friday. Year-to-date, the stock is up over 14%, compared to the Nasdaq's gains over the same period. The S&P 100 index has a return of over 22%.
Ives wrote on X on Monday that better-than-expected iPhone 17 sales and Apple's accelerated development in the field of artificial intelligence (AI) were the core catalysts for raising his target price for Apple.
The core logic behind this rating upgrade focuses on 2026. Ives believes that 2026 will be the year Apple truly enters the artificial intelligence revolution .
This aligns with Ives' long-held view of a "consumer AI revolution," in which he predicts a hardware supercycle will enable Apple to continue leading the consumer technology sector for many years to come.
Ives also stated that with Apple's performance continuing to exceed Wall Street expectations, he believes iPhone 17 sales will remain strong until the end of the year, with the Chinese market also performing exceptionally well .
Apple's iPhone 17 series smartphones have achieved impressive sales performance. According to data released last month by research firm Counterpoint, in October, iPhones accounted for a quarter of smartphone sales in China, with sales increasing by 37% year-on-year.
As he raised his target price for Apple, Ives expressed optimism about the AI boom. He has stated more than once that the market is in the early stages of the "Fourth Industrial Revolution."
Ives previously used a vivid analogy to describe the current "risk-seeking" market environment. He stated that if the AI bull market party started at 9 PM, it's currently only 10:30 PM and is expected to last until 4 AM.
He also dismissed concerns about a tech bubble, arguing that the massive capital expenditures of large tech companies, like “building Las Vegas in the desert,” are a necessary foundation for growth in the next decade.
(Article source: CLS)
