"The firm treats Apple's privacy-first, on-device approach as a competitive feature. Paired with third-party model tie-ins through the OpenAI partnership and rumored expansions to Alphabet's Google Gemini, Apple's role becomes the default interface for consumer AI, regardless of who builds the underlying models. Apple's Q2 earnings beat reinforced the durability of that platform."
Wedbush raised its Apple price target to $400 from $350 while keeping an Outperform rating. The view centers on distribution rather than model leadership, arguing that Apple’s large premium hardware installed base and integrated ecosystem create a privileged on-ramp for Apple Intelligence. The firm estimates about 20% of the world’s population will access AI through an Apple device over the coming years, using that upgrade path as the core thesis. Apple’s privacy-first, on-device approach is treated as a competitive advantage, with third-party model tie-ins supported by the OpenAI partnership and potential expansion to Google Gemini. Recent results showed revenue growth, higher EPS, and record Services, alongside a $100 billion buyback authorization and a dividend increase.
Read at 24/7 Wall St.
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