Apple (AAPL) Gains Wall Street Confidence on Supply Chain Strength and AI Services Potential

Apple Inc. (NASDAQ:AAPL) is one of the 12 AI Stocks Wall Street Is Watching Now. On May 7, Evercore ISI reiterated the stock as “Outperform” with a $330 price target. The firm believes that Apple’s supply chain is robust.

AAPL’s supply chain playbook remains highly sophisticated, but the AI cycle has meaningfully reduced the relative leverage it historically carried with key suppliers. Still, incremental insourcing and AAPL’s sophisticated supply/demand planning leave it better positioned than many OEM peers. Maintaining our OP rating and $330 target.

Separately, Wedbush raised its price target on the stock from $350 to $400, expressing encouragement regarding the company’s entry into the AI Revolution. The firm believes that over the coming years, roughly 20% of the world’s population will access AI through an Apple device.

We believe over the next few years Apple will be able to monetize the AI Services and storage features translating into what could be an additional $15 billion of annual services revenue for Apple as it starts to become the ‘consumer hub of AI’ technology for its global user base.

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

While we acknowledge the risk and potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AAPL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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