Apple Could Hit $400 as AI Push Taps 2 Billion Users
Updated
Updated · CNBC · Jul 7
Apple Could Hit $400 as AI Push Taps 2 Billion Users
1 articles · Updated · CNBC · Jul 7
Summary
$400 is Josh Brown’s new Apple target, implying about 28% upside from Monday’s close over the next six months.
Brown argues Apple can monetize AI more efficiently than other Magnificent 7 firms by charging premium feature fees through iCloud+ across more than 2 billion iPhone and device users.
He also cited near-term catalysts beyond AI, including a foldable iPhone expected this fall and signs iPhone sales in China are improving after a weak stretch.
That view comes as investors reassess capex-heavy AI spending elsewhere: the CNBC Magnificent 7 Index is little changed over the past month, while Microsoft and Nvidia fell 6% and 4% and Apple gained more than 1%.
Wall Street is broadly positive but less bullish than Brown — 31 of 48 analysts rate Apple buy or strong buy, and the consensus price target is $316.