Apple's share price rose on Wall Street this Friday, with Wedbush raising its target price for the stock from $250 to $275, while maintaining its 'outperform' rating.

The stock gained 1.2% in early trading, in a US stock market up by around 0.3%.

In a note released last night, Wedbush Securities was optimistic about the stock, anticipating strong demand for the future iPhone 16 with the arrival of new AI-related functionalities.

The American broker believes that the next developers' conference (WWDC), to be held on June 10, will be "the most significant event" for the technology group in ten years.

According to Wedbush, the American giant is likely to use the occasion to unveil large language models (LLMs) both pre-installed on its forthcoming devices, and as applications available in the cloud.

"We believe that the AI technology that will be integrated into Apple's ecosystem will generate significant monetization opportunities, both in terms of services and iPhone and device sales", he stresses.

According to his calculations, these projects could add between $30 and $40 in value to each Apple share, given that the group currently has an installed base of some 2.2 billion users.

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