Dan Ives raises Apple price target to highest on Wall Street
Apple is poised to grow on strong demand for its iPhone 17, particularly if it can make bigger inroads in the Chinese market, according to Wedbush. Widely followed analyst Dan Ives, who has a buy rating on Apple, raised his price target to $310 from $270. That signals 26% upside from Friday’s close. Ives’ new target is also the highest on Wall Street, FactSet data shows. “The Street is clearly underestimating this iPhone cycle in our view and it’s a Ryder Cup Bethpage moment for Cook and Cupertino after a few years of disappointing growth years,” Ives said in a note. “The combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates,” Ives said in the note. Sales of Apple’s latest smartphones, which went on sale Friday, are tracking between 10% and 15% ahead of the iPhone 16 to date, he added. Production increases of roughly 20% for base iPhone 17 and pro models seem likely, largely due to supply checks in Asia, according to the note. China demand will also “be a linchpin to this Apple iPhone cycle” amid a likely reversal of negative growth trends for the company there, even as the iPhone Air’s release remains delayed in the region due to its eSim design, Ives noted. “While iPhone Air is delayed in China … we expect this to be resolved over the coming month,” Ives said. “Taking a step back, this is the time for Apple to drive growth in China.” Ives is aligned with the majority of analysts when it comes to Apple. Thirty-two analysts, or roughly two-thirds of those covering Apple, have a strong buy or buy rating on the stock, based on LSEG data. AAPL YTD mountain AAPL YTD Apple shares rose nearly 1% in premarket trading. The stock is down nearly 2% year to date, however. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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