Investment firm Wedbush has increased its Apple price target both because of its belief that changes in executives mean that Apple Intelligence will succeed in 2026.
In October 2025, Wedbush raised its Apple target from $310 to $320, specifically because of sales of the iPhone 17 range. Now its analysts say that these latest iPhones are continuing to be a success, but also that there is now to be a sea change for Apple Intelligence.
Apple has long said that an Apple Intelligence-enhanced Siri will debut in 2026, but Wedbush is more focused on the expected partnership with Google Gemini. In a note to investors seen by AppleInsider, the company says it expects Apple to formally announce the partnership in early 2026.
While OpenAI's ChatGPT has already been available via Apple Intelligence, Wedbush claims that Google Gemini will be Apple's exclusive AI partner. The analysts are not clear on this distinction, but the inference is that they expect Gemini to be more embedded, or perhaps to replace Siri.
It seems unlikely that Apple will turn over Siri to a third-party, but Wedbush is also certain about the benefits of staff changes. The firm notes that previous head of AI John Giannandrea is leaving, and that Amar Subramanya is joining Apple.
Subramanya was previously with Microsoft and before that at Google's DeepMind AI division. Wedbush believes that this is Apple acknowledging that it needs to recruit from outside the company in order to improve its AI plans.
Still, Wedbush analysts think that there is much unknown about Apple's AI plans. They believe that Apple now has the opportunity to accelerate its Apple Intelligence efforts after a confused start.
Wedbush also expects that Tim Cook will stay as CEO until at least the end of 2027. Its analysts say that this will be because Cook will want to see Apple through this transition to AI.
