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JPMorgan cuts Apple stock price target on soft iPhone 17 outlook and delayed AI payoff
Apple’s stock took a minor confidence hit today, as JPMorgan lowered its price target, though the firm kept its overall rating intact.
The adjustment comes as analyst Samik Chatterjee and his team dial back expectations for Apple’s medium-term revenue and earnings, citing weakening demand drivers tied to the upcoming iPhone 17 cycle. Chatterjee cut his 12-month price target for AAPL from $240 to $230, citing weaker iPhone 17 expectations, ongoing macroeconomic headwinds, and a slower-than-expected path for Apple’s AI strategy to deliver meaningful returns. As reported by Invertor’s Business Daily, the note also pointed to a modest pullback in consumer appetite for upgrades this fall, as purchases earlier this year (spurred by anticipated tariff hikes) likely pulled demand forward.
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