Apple shares hit over eight-month high after Wedbush sets Street-high PT
Shares of Apple AAPL.O up 2.1% at $250.78 - hit their highest in more than eight months
Brokerage Wedbush raises PT on AAPL to $310 from $270 on early strong demand signs for iPhone 17
New PT is highest on Wall Street, representing a more than 26% upside to stock's last close of $245.5
Wedbush says combination of pent-up consumer upgrade cycle and some design changes/enhancements have been the magical formula for the iPhone 17 cycle; China demand crucial for iPhone 17 upgrade cycle
"This is the time for Apple to drive growth in China with domestic competition from Huawei and Xiaomi being a formidable headwind," Wedbush says
AI monetization can add "$75 to $100 per share to the Apple story" over the coming few years and sees no "AI premium" factored in stock price - brokerage
Wedbush holds "outperform" rating on stock
Including session's move, Apple shares up about 0.2% YTD, compared with a 13.2% increase in S&P 500 .SPX index
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