Apple Stock Sets Record High Amid AI Growth

On Thursday, shares of Apple Inc. (AAPL) soared to an all-time high after analysts from Wedbush, led by Dan Ives, conveyed expectations of a transformative growth period ahead for the iPhone maker in 2025, largely propelled by the increasing demand for artificial intelligence (AI).

The analysts heightened their price target for Apple’s stock by $25, setting it at $325, which suggests an impressive upside of roughly 25% compared to Thursday’s closing price of $259.02. They have retained an “outperform” rating on the stock, citing a multi-year upgrade cycle for the iPhone that they believe is not fully appreciated by market observers. The average price target among analysts surveyed by Visible Alpha is around $244, indicating a potential decline from the current level.

Moreover, Wedbush predicts that Apple could exceed 240 million iPhone sales in fiscal year 2025, marking this period as potentially the highest for iPhone unit sales in the company’s history, particularly influenced by this AI-driven upgrade cycle.

The substantial rise in Apple’s stock price has resulted in an increase of over one-third of its value since the beginning of the year, bringing the company’s market capitalization closer to the monumental $4 trillion mark. Reaching this threshold would position Apple as the first company to achieve such a valuation, following in the footsteps of other tech giants like Nvidia (NVDA) and Microsoft (MSFT), which also boast market capitalizations exceeding $3 trillion.

This optimistic outlook from Wedbush highlights a significant intersection of emerging technologies and consumer preference, suggesting that AI will play a pivotal role in driving future growth for Apple and potentially transforming the smartphone market at large.