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
Related Articles
Costco FY2025 Q4 Earnings Preview: Decoding Growth Drivers and Market Bets Amid Sky-High Valuation
TradingKey - Since the release of Costco's fiscal 2025 third-quarter earnings report, its stock performance has slightly underperformed the S&P 500 index. After a significant year-to-date rally, the stock has entered a consolidation phase, exhibiting a contracting triangle pattern, reflecting...
Zeta Global (ZETA): Solid Data Moat Can Drive Value Up
TradingKey - Simply speaking, Zeta is a marketing tech company that leverages its high-quality, proprietary data and AI tools to automate a wide range of marketing tasks, helping marketers and brands conduct campaigns on various channels. The company’s solid moat is based on its high-quality...-8fe429c75f0a48aa94f43d6c5c639094.jpg)
Fed Rate Cuts: Will the Russell 2000 Outperform the S&P 500?
TradingKey - On 17 September, the Federal Reserve cut interest rates by 25 basis points, marking the official restart of the rate-cutting cycle. In theory, small-cap stocks, compared to large-cap stocks, benefit more from Fed rate cuts. This is because they are more reliant on external financing...
Uranium Energy Corp. (UEC) Earnings Preview: Is there any Uranium out there?
TradingKey - Uranium Energy Corp (UEC) will report fourth-quarter and full-year earnings on the 24th of September, before the opening bell. The company’s stock price has been performing very strongly, being up 61% on a year-to-date basis - a rally closely related to uranium as a commodity._croped_889x500 (1)-666c3deec8f74a1d91bccfc0edb42909.jpg)
AI’s Next Battlefield: Broadcom’s TPU-Backed ASICs Challenge Nvidia’s GPU Dominance
TradingKey - Broadcom (NASDAQ: AVGO) recently secured a landmark $10 billion deal with OpenAI to supply custom AI accelerators, solidifying its leadership in the booming AI semiconductor market. Alongside its longstanding Google TPU partnership, this positions Broadcom to capture significant growth.jpg)
