10:31 AM EDT, 08/01/2025 (MT Newswires) -- Apple ( AAPL ) delivered "solid" fiscal Q3 results on beats across the board, fuelled by double-digit growth in iPhone, Mac and Services, Wedbush Securities said in a note Friday.

The firm also noted the 4% year-over-year growth in the Greater China region because of strength from iPhone upgraders and robust demand for Mac products.

At the same time, Wedbush said Apple's ( AAPL ) artificial intelligence investments are "not moving the needle."

"It's clear to us the innovations around AI are not going to come from Apple Park," the firm said. "Apple ( AAPL ) needs to acquire Perplexity to truly catalyze its AI strategy among other options."

Wedbush maintained the company's outperform rating and $270 price target.

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