Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks in Focus on Wall Street. On September 22, Wedbush reiterated the stock as “Outperform” and raised its price target citing strong iPhone 17 demand.

Ives is “positively surprised” by iPhone 17’s demand trajectory, stating how units seem to be tracking 10% to 15% ahead of iPhone 16 so far.

“We are raising our price target to $310 from $270 based on the early strong demand signs coming out of the iPhone 17 cycle. With iPhone 17 officially going on sale over the weekend we are positively surprised on the demand trajectory with units that now appear to be tracking 10%-15% ahead of iPhone 16 thus far.”

The firm believes that iPhone 17 is receiving stronger-than-expected demand, and that the iPhone Air could be a surprise hit based on the firm’s store checks. Overall, Wedbush believes that the Street is underestimating the iPhone cycle and it’s a Ryder Cup Bethpage moment for the tech giant after few years of disappointing growth.

“We believe supply checks in Asia will result in production increases of roughly 20% for base iPhone 17 and Pro models. The new “iPhone Air could be the surprise” of this Apple upgrade cycle based on our numerous store checks over the weekend speaking with Apple customers. Tracking shipping times we are seeing particularly strong demand for iPhone 17 Pro models which is a positive sign for Apple. Heading into this iPhone 17 cycle we were expecting this upgrade cycle to be a good, but not great one. Instead the combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates. We believe iPhone unit Street estimates of roughly 230 million for FY26 could be conservative and now in the 240 million to 250 million area at this pace. The Street is clearly underestimating this iPhone cycle in our view and its a Ryder Cup Bethpage moment for Cook and Cupertino after a few years of disappointing growth years.”

Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 AI Stocks You Should Not Ignore and 10 Must-Watch AI Stocks on Wall Street.

Disclosure: None.

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks in Focus on Wall Street. On September 22, Wedbush reiterated the stock as “Outperform” and raised its price target citing strong iPhone 17 demand.

Ives is “positively surprised” by iPhone 17’s demand trajectory, stating how units seem to be tracking 10% to 15% ahead of iPhone 16 so far.

“We are raising our price target to $310 from $270 based on the early strong demand signs coming out of the iPhone 17 cycle. With iPhone 17 officially going on sale over the weekend we are positively surprised on the demand trajectory with units that now appear to be tracking 10%-15% ahead of iPhone 16 thus far.”

The firm believes that iPhone 17 is receiving stronger-than-expected demand, and that the iPhone Air could be a surprise hit based on the firm’s store checks. Overall, Wedbush believes that the Street is underestimating the iPhone cycle and it’s a Ryder Cup Bethpage moment for the tech giant after few years of disappointing growth.

“We believe supply checks in Asia will result in production increases of roughly 20% for base iPhone 17 and Pro models. The new “iPhone Air could be the surprise” of this Apple upgrade cycle based on our numerous store checks over the weekend speaking with Apple customers. Tracking shipping times we are seeing particularly strong demand for iPhone 17 Pro models which is a positive sign for Apple. Heading into this iPhone 17 cycle we were expecting this upgrade cycle to be a good, but not great one. Instead the combination of a pent-up consumer upgrade cycle with our estimates of 315 million of 1.5 billion iPhones globally not upgrading their iPhones in the last 4 years, coupled with some design changes/enhancements have been the magical formula out of the gates. We believe iPhone unit Street estimates of roughly 230 million for FY26 could be conservative and now in the 240 million to 250 million area at this pace. The Street is clearly underestimating this iPhone cycle in our view and its a Ryder Cup Bethpage moment for Cook and Cupertino after a few years of disappointing growth years.”

Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 AI Stocks You Should Not Ignore and 10 Must-Watch AI Stocks on Wall Street.

Disclosure: None.