Nvidia has been the dominant beneficiary of the AI boom—its stock up roughly 975% over three years versus Apple’s 95%—but Wedbush analyst Dan Ives raised his Apple price target to $350 (from $320) and kept an outperform rating, arguing Apple could top Nvidia in 2026 if it accelerates AI execution. Ives points to Apple’s hiring of Amar Subramanya to lead foundation models and ML efforts, a potential Google-assisted overhaul of Siri, strong iPhone 17 sales and a 2.4 billion iOS-device installed base (1.5 billion iPhones) as the twin AI and iPhone catalysts that could deliver $75–$100 of upside. He still assigns a $210 target to Nvidia, notes Apple trades at ~33x forward earnings versus Nvidia’s ~39x, and cautions that price targets are uncertain, implying successful AI integration and sustained handset demand could materially re-rate Apple.
Wedbush analyst Dan Ives raised his Apple price target to $350 (from $320) and maintained an outperform rating, arguing Apple could outperform Nvidia into 2026 if it accelerates AI execution; Nvidia has been the AI beneficiary (stock up ~975% over three years) while Apple climbed ~95% versus the S&P 500’s ~73% gain. Apple recently hired Amar Subramanya to lead foundation models, ML research and AI safety, a material leadership signal consistent with a formalized AI strategy that Ives expects will be catalyzed by an incoming Siri overhaul potentially sourced from Google. Ives cites two concrete catalysts: renewed AI integration across products and stronger iPhone demand, noting channel checks that iPhone 17 sales are "tracking well" heading into the holiday quarter and highlighting Apple’s installed base of 2.4 billion iOS devices (1.5 billion iPhones) as a monetizable, captive audience. Success on these fronts is the primary driver of his $75–$100 per-share upside thesis. Valuation dynamics matter: Apple trades at ~33x forward earnings versus Nvidia at ~39x, and Ives’ targets would put Apple’s market cap marginally ahead of Nvidia’s if achieved; sentiment is moderately positive (score 0.45) with modest market-impact (0.35). Execution risk on AI product integration, the timing of a Siri revamp, and holiday sales are the key event risks investors should monitor before re-rating exposure.
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Overall Sentiment
moderately positive
Sentiment Score
0.45
Ticker Sentiment
