Wedbush analyst Dan Ives may be best known for his vocal support of Nvidia and Tesla, but on Friday morning, he reminded investors that he is just as bullish on another mega-cap tech name: Apple (AAPL +2.08%). In a fresh note, Ives lifted his price target on Apple stock from $350 to $400 — the highest figure any major firm has set on the iPhone maker. From a recent share price of about $293, that implies upside of nearly 37%.

What has the analyst so bullish? Ives called Apple “the sleeping tech giant about to see a major inflection point in growth” as the company prepares to unveil its long-awaited artificial intelligence (AI) strategy at WWDC 2026 in June.

For investors who have grown impatient with Apple’s slow pace on AI, it’s a…