Apple Inc. (AAPL) Targets $15B Service Revenue via AI

Apple Inc. (NASDAQ:AAPL) is one of the top tech stocks in billionaire Ken Fisher’s portfolio. On May 8, Wedbush analysts raised their price target of Apple Inc. (NASDAQ:AAPL) stock to $400 from $350, impressed by the company’s entry into the artificial intelligence revolution.

Apple Inc. (AAPL) Targets $15B Service Revenue via AI

According to the research firm, Apple’s position in the artificial intelligence space is poised to receive a significant boost. That’s in part because 20% of the world population is poised to access AI innovation through the company’s devices.

Similarly, the analysts expect the tech giant to start monetizing AI services and storage features, resulting in $15 billion of annual services revenue through additional AI features and storage offerings.

Wedbush also expects strategic partnerships with Alibaba on AI to have a significant impact on strengthening Apple’s prospects in China. The research firm also expects Apple to unveil a significant iPhone redesign in 2027, on its 20th anniversary, as part of the AI revolution.

Apple Inc. designs, manufactures, and markets consumer electronics, software, and online services. Known for the iPhone, Mac, iPad, and Apple Watch, the company focuses on premium, user-friendly hardware integrated with proprietary operating systems such as iOS and macOS, as well as services like the App Store, Apple Music, and iCloud.

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