Wedbush analyst Daniel Ives believes 2026 could be a defining year for Apple, arguing that investors are underestimating both the scale and timing of the company’s artificial intelligence ambitions.
In a note released on Sunday, Ives said Apple shares have struggled so far this year as the market worries that the company may once again delay fully monetizing its role in what he described as the fourth industrial revolution already underway.
However, Ives said Wall Street is misjudging what lies ahead. In his view, 2026 will mark the moment when Apple decisively accelerates its AI strategy, with CEO Tim Cook and senior leadership finally committing to a comprehensive roadmap.
He described 2026 as a “prove-it year” for Apple, estimating that successful execution could unlock roughly $100 per share in additional value. Ives reiterated his Outperform rating on the stock and maintained a $350 price target, pointing to four major strategic and financial drivers that could propel shares toward that level.
Four catalysts that could lift Apple stock
1) Google Gemini partnership
Ives expects Google Gemini to become the exclusive foundation of Apple’s AI ecosystem. He noted that investors are still waiting for a clear, flagship AI partnership announcement. With an installed base of roughly 2.4 billion iOS devices and 1.5 billion iPhones worldwide, Ives said the urgency to scale Apple’s AI efforts has never been greater.
2) Launch of a redesigned AI-powered Siri
According to Ives, developers and consumers are anticipating a revamped Siri as early as March or April. He views this update as Apple’s response to leading large language model platforms and expects the company to unveil an AI-driven subscription service later this summer, targeting its massive user base.
3) Strong iPhone 17 sales and momentum into iPhone 18
Ives believes Apple’s iPhone unit sales in 2026 could comfortably exceed current market forecasts. He cited resilience in China, rising average selling prices, and the potential debut of a foldable device during the iPhone 18 cycle. He also expects Pro model prices to climb by about $100, further supporting revenue growth.
4) Leadership continuity at the top
Finally, Ives pushed back against speculation of a near-term leadership transition. He expects Cook to remain CEO through at least 2027, a period he sees as critical for shaping and executing Apple’s long-term AI strategy.
Ives added that Apple is shifting into a more aggressive stance by expanding its AI talent pool. He highlighted recent hires, including renowned AI researcher Amar Subramanya, as key moves to strengthen Apple Intelligence and reinforce the company’s competitive position.
