iPhone 17 rocks: Dan Ives raises price target on Apple stock to highest among Wall Street peers
Apple stock price target: Apple’s latest iPhone launch is shaking up the market, and Wall Street is taking notice. Dan Ives, lead analyst at Wedbush, has raised his price target on Apple stock to $310, the highest among Wall Street peers, as per a report. His bullish outlook is fueled by strong early demand for the iPhone 17, which he believes signals a powerful upgrade cycle for the tech giant, as per a GuruFocus report.
Dan Ives Raises Apple Price Target to $310 As iPhone 17 Demand Outpaces Expectations
After years of softer iPhone launches, the response to the iPhone 17 has surprised even the most optimistic analysts. Wedbush estimates demand for the new models is running 10–15% ahead of last year’s iPhone 16, with supply chains already planning a 20% production boost for the base and Pro models, as per a Quartz report. Shipping delays tell a similar story, the iPhone 17 Pro Max is selling out quickly, with delivery dates pushed weeks out in multiple regions, according to the report.
Ives had expected a “good, but not great” upgrade cycle, but instead, he’s seeing a surge driven by a backlog of around 315 million iPhones that haven’t been upgraded in four years. This combination of long-awaited replacement demand and modest design updates appears to have found the “magical formula” Apple needed to reignite buyer excitement, as reported by Quartz.
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Wall Street Analysts: JPMorgan, Morgan Stanley, UBS React to iPhone 17 Sales
Wall Street’s enthusiasm isn’t limited to Wedbush. Morgan Stanley and JPMorgan have also noted rising wait times for iPhone 17 deliveries as proof of strong demand, with JPMorgan nudging its Apple price target to $280, as per the report. UBS offered a more cautious take, citing mixed demand across models but still recognizing the strength of the launch.
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iPhone 17 Global Sales Momentum in China, India, and the US
Apple’s sales momentum is visible worldwide. In China, lines stretched for the iPhone 17 launch, with record preorders reported for the base 256GB model, though the iPhone Air has been held back by regulators due to its eSIM-only design, according to Quartz. In India, preorders jumped 19% year-over-year, setting Apple up well for the upcoming festival season. Back home in the US, carriers are offering generous trade-in deals to ease the impact of higher prices, a sign Apple is mindful of cost concerns, as per the report.The model mix shows the iPhone 17 Pro Max is the standout favorite in retail, but the standard iPhone 17 is also showing strong online sales, as per Quartz. Wedbush even suggests the iPhone Air “could be the surprise” of this cycle based on in-store feedback.
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Apple Stock Price Gains After iPhone 17 Launch Hype
Apple’s stock reflected this positive momentum, climbing about 2.4% in early trading on Monday and gaining nearly 6% over the past five days, as per the Quartz report.
Apple AI Strategy Could Unlock $100 Per Share in Future Growth
But the bullish outlook isn’t just about hardware. Ives points to Apple’s “still-nebulous AI strategy” as a huge opportunity. With 1.5 billion iPhones in use globally, Apple has an unmatched platform to integrate AI, potentially leveraging Google’s Gemini in search and system-level features, as per Quartz. Ives believes AI monetization could add $75 to $100 per share over the next few years, a value the market has yet to fully price in, according to the report.
Ives said, “We believe no ‘AI premium’ is factored into Apple’s stock at current prices which makes this a compelling large cap tech name to own into year-end and 2026,” as quoted by Quartz.
FAQs
What’s Dan Ives’ new price target for Apple stock?
He raised it to $310, the highest on Wall Street.
How does demand for the iPhone 17 compare to the iPhone 16?
It’s tracking about 10–15% higher than last year’s model.