JP Morgan raises Apple price target to $360
JP Morgan boosted its Apple price target by $20 to $360, maintaining an 'Overweight' rating, even as reports surfaced about production cuts for upcoming iPhone 18 Pro models due to allegedly weak demand. The investment bank sees these cuts as in line with Apple's past patterns and expects sales of the iPhone Duo to help offset the delayed launch of regular iPhone 18 models. JP Morgan projects a 2% dip in iPhone revenue but a slight overall revenue increase for Apple.
- Apple's new price target set at $360 by JP Morgan
- Reported iPhone 18 Pro production cuts seen as normal
- iPhone Duo sales forecasted to offset delays
- 2% dip expected in iPhone revenue this year
- Overall Apple revenue projected to rise 2%
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