Financial analysts at Wedbush have consistently been bullish about Apple, but now has raised its target price by a whopping $50 to $400, making its greatest jump in at least the last five years.

Back in April 2025 when Trump's tariffs first struck, Wedbush did cut its Apple price target $325 down to $250, but that was a rare drop. Now it's made a similarly large increase, taking its price target from the $350 it set in December 2025, to $400.

This is the highest price target ever set for Apple by any investment firm, and in a note to investors seen by AppleInsider, the company's analysts attribute it very much to AI. They believe that what Apple will reveal at WWDC 2026 in June will lead to around a fifth of the entire world's population using AI via Apple devices over the next few years.

Key to this belief is the recent news that Apple's forthcoming iOS 27 will give users the option of multiple different AI models. Wedbush also expects that ultimately hundreds of AI-based apps will take advantage of improvements to Apple Intelligence.

While the $50 target increase is the largest Wedbush has made since at least 2021, the firm has consistently predicted that 2026 will be a significant year for Apple Intelligence. It has also previously predicted that Apple will charge for some AI features, and its latest report doubles down on that.

Wedbush expects that over the next few years, Apple will monetize is AI services. Including its partnership in China with Alibaba, Wedbush predicts that Apple's AI monetization could bring it $15 billion annually.

The investor note says little further about China, other than that Apple's AI partnership is part of it aiming to greatly increase its user base in the country. In Apple's latest earnings call, Tim Cook called out the fact that he was "thrilled" with how the company has seen "strong double-digit growth in Greater China."

In that same call, Cook also stressed that how with Apple Intelligence, this "is not AI as a standalone feature, but AI as an essential, intuitive part of the experience across our devices." That fits with Wedbush's belief that Apple will become what it calls the consumer hub of AI.

CEO handover and WWDC

These expectations around AI, though, are not Wedbush's only reasons to increase its price target. The firm's analysts also expect the incoming CEO John Ternus to have an impact on Apple's hardware moves.

Wedbush believes that WWDC 2026 will be particularly significant, but is already describing this as a golden age for Apple.

Most analysts have been positive about Apple following its recent earnings announcement, but Wedbush appears to be the first to raise its target price.

WWDC 2026 takes place in the week of June 8 to June 12, with the spotlight as ever being on the opening keynote speech.