Apple Price Target Raised to Street High on iPhone 17 Surge

Apple (AAPL, Financials) won fresh support from Wedbush analyst Dan Ives, who raised his price target on the stock to the highest among Wall Street peers.

Ives pointed to strong early signs of demand for the iPhone 17, which he said could fuel one of Apple's most powerful upgrade cycles in years. The new devices, unveiled earlier this month, are expected to lift sales heading into the holiday season and 2026.

Apple shares have rallied more than 30% year-to-date and were trading near record highs Monday. The bullish call adds to a wave of optimism around Apple as investors bet the company can sustain growth in its core hardware line while deepening its push into artificial intelligence and services.

Ives has long been one of the most prominent Apple bulls, often highlighting the company's ecosystem strength and recurring revenue from services as reasons for long-term confidence.

The market will be watching Apple's December quarter results to see if iPhone 17 demand matches the early enthusiasm.