Wedbush: AI & pent-up iPhone 16 demand outweigh concerns over China sales

In a note seen by AppleInsider, investment firm Wedbush has told its clients that it is maintaining its price target for Apple, despite what it describes as a horror show of current problems.Tim Cook at a game tournament in Apple Taikoo Li, Chengdu Wedbush raised its Apple target price to $250 in December 2023, specifically because of the company's long-term resilience, and also its enormous base of users. Since then, Apple has seen iPhone sales fall further in China, and it's also cancelled the Apple Car.In the note, the analysts are clear in saying that they don't underestimate Apple's current problems. In particular, they say that having visited Asia, they have witnessed price discounting on the iPhone because of slow sales. Continue Reading on AppleInsider | Discuss on our Forums