Overview
- JP Morgan is maintaining its Apple price target at $230 per share but expects to raise it to $250 by late 2026.
- The bank forecasts fiscal Q3 revenue of $89.6 billion and iPhone revenue of $39.9 billion, both modestly above consensus estimates.
- Analysts characterize demand for the upcoming iPhone 17 as lower than earlier forecasts yet still robust.
- Apple’s rerouting of assembly and distribution to India and Vietnam is seen as a buffer against U.S. tariff pressures on hardware.
- JP Morgan cautions that the DOJ’s antitrust lawsuit against Google could cost Apple roughly $20 billion in annual search income.