JPMorgan has raised its Apple price target by $20 to $360, only months after trimming it to $340 in July over supply worries.
As noted by TheStreet, in a note to investors, analyst Samik Chatterjee kept his Overweight rating and said the reported cuts are no different from the production adjustments Apple makes every year. He added that demand for the iPhone 18 Pro is running fractionally ahead of the iPhone 17 Pro so far, according to Fortune.
Chatterjee argued that supplier cuts reflect Apple’s new launch timing rather than a weaker upgrade cycle. He pointed to lead times that suggest demand for the iPhone 18 Pro and Pro Max is holding up better than it did for last year’s Pro models, as reported by Benzinga.
