Wall Street forecasts Apple stock price for next 12 months

Wedbush Securities analyst Dan Ives has significantly raised his Apple (AAPL) price target to $310, the highest on Wall Street, anticipating a robust iPhone upgrade cycle driven by strong demand for iPhone 17 Pro models and the potential 'surprise hit' of the iPhone 17 Air. Ives projects 240-250 million iPhone shipments, surpassing Street consensus, and believes this cycle will be a critical catalyst for Apple to regain market momentum and potentially reach a $3 trillion valuation after lagging its peers.

Analysis

A highly bullish outlook for Apple (AAPL) has emerged from Wedbush Securities, which raised its price target to a Street-high of $310, citing the beginning of the company's strongest upgrade cycle in years. This optimism is predicated on strong early demand signals for the iPhone 17, particularly the Pro models, which analyst Dan Ives rates as an '8.5 out of ten' in strength. The cycle is fueled by a significant base of 315 million users who have not upgraded their iPhones in four years, a cohort whose demand was left unmet by the reportedly disappointing iPhone 16. Wedbush's channel checks indicate the lower-priced iPhone 17 Air could be a 'surprise hit,' with data showing three out of every ten U.S. customers over the weekend were specifically interested in this model. Consequently, Ives projects total iPhone shipments of 240-250 million units for the cycle, substantially above the Street's consensus of 230 million. This forecast does not yet include sales from China, which are pending regulatory approval, suggesting further potential upside. After lagging 'Magnificent Seven' peers in 2025, this product cycle is positioned as the primary catalyst to drive renewed investor confidence and push Apple's valuation back towards the $3 trillion mark.

Key Decisions for Investors

• Investors may consider the Street-high price target and strong initial demand for the iPhone 17 as a rationale to initiate or add to long positions, as the stock has underperformed peers year-to-date.
• Monitor upcoming channel checks, official shipment data, and any news regarding regulatory approval in China, as these are critical validation points for the projected 240-250 million unit cycle.
• Pay close attention to the sales mix, particularly the performance of the iPhone 17 Air, as its success could significantly broaden Apple's upgrade base and provide an upside surprise to revenue forecasts.