Consumer tech giant Apple (NASDAQ: AAPL) has had a pretty good year, with its stock up roughly 19% as of Sept. 11, outperforming the broader market. However, like most tech stocks, September has thus far not been friendly to Apple, which has seen its stock fall approximately 3.5% this month.

Recently, Apple debuted its new iPhone 16 during an event held at its headquarters, and the phone will feature a new artificial intelligence (AI) software called Apple Intelligence. The news has prompted one prominent Wall Street tech analyst to boost his already bullish outlook on the stock. Let's take a look.

Prior to his recent note, Wedbush tech analyst Dan Ives already had an outperform rating on Apple and a $285 price target. Now, Ives is reiterating his bullish outlook and boosting his price target to $300, suggesting 36% upside from Apple's current stock price of $221, as of Sept. 11.

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Source Fool.com