On Friday, Apple stock attracted investor attention after Wedbush Securities increased its price target for the iPhone maker to $350. This adjustment is based on anticipated gains from new Mac products focused on artificial intelligence.

Wedbush analyst Daniel Ives maintained an "Outperform" rating, stating the new target implies approximately 34% upside from recent trading levels. The firm noted that Apple is expanding its Mac lineup with the latest M5 chips, designed to enhance performance for AI-related tasks while offering faster memory and longer battery life.

The updated product portfolio includes new MacBook Air and MacBook Pro models, as well as a new, lower-priced MacBook Neo. This entry-level device starts at $599 and appears aimed at attracting more price-sensitive consumers while supporting on-device AI capabilities.

Wedbush stated that a broader product line could help Apple expand its user base by appealing to both premium and entry-level market segments. The firm also highlighted that a significant portion of Mac buyers are first-time users, indicating the platform continues to bring new customers into Apple's broader ecosystem of devices and services.

The analyst added that as market demand for AI-driven computing tools grows, combining AI-capable hardware with a wider range of price points could support sustained growth in Mac sales.