TECH - Apple's iPhone AI Moment 'Now Here For Cook' Says Tech Bull: Cupertino And Microsoft Set To Hit $4 Trillion Market Capitalization By This Year | Benzinga

Wedbush analyst Dan Ives has predicted that Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT) could cross the $4 trillion valuation mark over the next year, driven by AI.

What Happened: Ives raised his price target for Apple to $275, representing a 47% increase from its current value. He described the WWDC event on June 10 as Apple’s “most important event in a decade,” anticipating a series of AI announcements.

“Introducing AI to its all-important developer community and laying the foundation for bringing generative AI to the consumer starts with Apple in our view,” Ives said.

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These features, likely to be integrated into the iPhone 16 launch in September, could spark a “renaissance of growth” as more users upgrade their iPhones. Ives predicts an iPhone upgrade cycle of over 270 million units.

"We believe the Apple iPhone AI Moment is now here for Cook and Cupertino."