Wedbush analysts raised their price target for Apple's stock Thursday, telling clients they expect the iPhone maker could be headed for a "golden era of growth" driven by demand for artificial intelligence.

Apple is on the cusp of an artificial-intelligence-fueled “golden era of growth,” Wedbush analysts argued Thursday as they raised their price target on shares of the tech giant. The analysts increased their price target to $325,

Wedbush maintained its Outperform rating on Apple (NASDAQ:AAPL) and raised its price target on the stock to $325 from $300, noting that "a golden era of growth for Cupertino is now on the horizon into 2025.

That's the idea behind Image Wand, a new Apple Intelligence feature introduced in iOS 18.2 and powered by the same image generation technology behind Genmoji and Image Playground. Image wand can create illustrations from a rough drawing and some descriptive text -- think of it as malleable clip art.

You’ll be prompted to set up Apple Intelligence right after upgrading to iOS 18, but if you need to set it up later, head to Settings in iOS: Tap More for Your iPhone, and then Set Up Apple Intelligence. You’ll get an explanation of some of the AI upgrades you can use, and a short demo of how they work.

The addition of AI features like Apple Intelligence are not impressive to consumers, a survey of Apple and Samsung smartphone owners claims, but the timing of the survey may have skewed the results.