• Wedbush Securities raises Apple's price target to $310 from $270, citing robust early demand signals for the iPhone 17.
  • Sales projections for the upcoming model are tracking 10-15% higher than for the iPhone 16, driven by strong Pro model interest and surprising traction for the new iPhone Air.
  • The bullish outlook persists despite ongoing competitive pressures in the critical Chinese market from Huawei and Xiaomi.

Wedbush analysts issued a bullish note on Apple Inc. ($AAPL) early Thursday, significantly raising their price target based on strengthening demand indicators for the yet-to-be-released iPhone 17. The firm now sees the stock reaching $310, up from a previous target of $270, with sales projections for the new device tracking 10-15% above the iPhone 16 cycle.

The upgrade appears to be fueled by particularly strong interest in the high-margin Pro models and what analysts described as "surprising" early consumer interest in the newly rumored iPhone Air. "Our recent supply chain checks ahead of the fall launch are unequivocally positive," the Wedbush note stated, according to a person familiar with its contents. The analysts highlighted that this points to a much-anticipated upgrade cycle that could bolster Apple's revenue well into 2026.

This optimism arrives even as Apple navigates a complex landscape in China, its largest international market. Competition from local champions Huawei and Xiaomi remains fierce, with nationalistic purchasing trends and government restrictions on foreign technology posing persistent headwinds. Despite these challenges, Wedbush suggested initial order patterns from Chinese suppliers and carriers have not shown significant weakness, a key factor in their upgraded assessment.

Efforts to reach Apple for comment on the analyst report were not immediately successful. The company typically does not comment on rumors or analyst projections concerning unannounced products.

The positive sentiment from Wedbush echoes a broader stabilization in the global smartphone market after several quarters of stagnation. If the demand projections hold, Apple could see a meaningful uplift in average selling prices (ASPs) and hardware revenue, complementing the steady growth of its high-margin Services division. For investors, the report signals confidence that Apple's core product innovation cycle still holds significant power to drive shareholder value, even as the company expands its focus into new areas like artificial intelligence and mixed reality.

Correction: An earlier version of this article misstated the previous Wedbush price target; it was $270, not $250.