Wedbush Securities analyst Dan Ives isn't backing down on Apple Inc. (AAPL). In fact, he's doubling down. Despite Wall Street's ongoing questions about whether Cupertino really has an AI game plan, Ives laid out a roadmap over the weekend that could send the stock to $350 in 2026.
Four Catalysts That Could Change Everything
In a Sunday post on X, Ives declared "We are very bullish on Apple for 2026," then proceeded to detail four "strategic and financial goals" he believes are essential for hitting that ambitious $350 price target.
First up: a partnership with Google's Gemini platform. "We believe Google Gemini will be the exclusive partner for Apple's AI strategy," Ives said. This matters because, as he pointed out, the "elephant in the room" is Apple's conspicuous lack of a visible AI roadmap, even though the company sits atop "the biggest consumer installed base in the world of 2.4 billion iOS devices and 1.5 billion iPhones." If you can't build it fast enough yourself, partnering makes sense.
Second, Ives expects Apple to roll out a completely revamped Siri in early 2026. He positioned this as "Apple's answer to ChatGPT and Perplexity," suggesting the voice assistant could finally become something people actually want to use regularly.
Third comes the hardware angle. Ives thinks iPhone unit sales in 2026 "will handily exceed current Street estimates," driven by renewed strength in China and the potential introduction of a foldable iPhone during the iPhone 18 cycle. A foldable Apple phone has been rumored for years, but if it actually arrives, it could create a meaningful upgrade cycle.
Finally, Ives pushed back against speculation about CEO Tim Cook stepping down. "We disagree with this narrative," he wrote, predicting Cook will stay on at least through the end of 2027. Ives called this "an integral period for Cupertino to design and execute on its broader AI Revolution strategy." Translation: you don't swap out the quarterback when you're about to run your biggest play.