Wedbush analysts raised their price forecast on Apple Inc. (NASDAQ:AAPL) from $350 to $400 on Friday.

The firm maintained an Outperform rating. This change reflects a "new AI age" coming to Cupertino. Analysts believe Apple is a "sleeping tech giant" nearing a major growth inflection point.

The AI Monetization Opportunity

Wedbush estimates that 20% of the world's population will access AI through Apple devices. Analysts expect Apple to become the "consumer hub of AI" technology, and this shift could generate $15 billion in additional annual services revenue.

"We believe AI monetization and services will ultimately add $75 to $100 to Apple stock," the analysts noted in the Friday report. This value is not yet factored into the current stock multiple.

WWDC and the iOS 27 Roadmap

The upcoming WWDC in June serves as the first step in Apple's foundational AI platform. Wedbush expects users to integrate Google's Gemini model into the hardware ecosystem.

Furthermore, iOS 27 will reportedly allow 2.5 billion users to set preferred AI models as defaults. This open approach includes support for providers like OpenAI's ChatGPT and Claude. Analysts see this leading to hundreds of AI-driven apps across health, finance and lifestyle sectors.

Leadership Shift to CEO Ternus

The report highlights a transition in leadership from Tim Cook to John Ternus. Wedbush describes Ternus as a "thought leader" who understands the "Apple DNA."

Analysts believe the "era for Ternus" will focus on hardware innovation. Key future developments include foldable phones, AI-enabled smartphones, and affordable Apple Glasses. Innovation under Ternus will define the company's future success.

Global Strategy and China Partnerships

Apple's partnership with Alibaba Group Holding Limited (NYSE:BABA) remains vital for the China market. Wedbush views this as an incremental step toward an AI-enabled iPhone.

A significant redesign is likely for the 20th-anniversary edition in 2027. "We see a golden path ahead for Apple in this AI era," the analysts concluded.

AAPL Price Action: Apple shares were up 1.76% at $292.50 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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