GoKawiilJP Morgan raises Apple price target to $360 despite iPhone 18 Pro cut reports
JP Morgan increased its AAPL price target from $340 to $360 and kept its Overweight rating, days after reports that Apple told suppliers to cut iPhone 18 Pro and Pro Max component production due to soft demand. The firm said the cuts match Apple's typical production patterns and expects the new iPhone Duo to offset lost sales from the delayed standard iPhone 18, projecting 8.5 million Duo units sold in the December quarter alongside a 2% drop in iPhone revenue but 2% overall revenue growth.
GoKawiil's interpretation of the reporting above, not reported fact.
JP Morgan's framing suggests the firm sees the production cuts as routine inventory management rather than a sign of weakening consumer interest, which could reassure investors rattled by the earlier Nikkei Asia report. A separate Securities Times report of a 30% increase in iPhone Duo orders lends some support to that more optimistic reading, though JP Morgan itself still flags supply constraints and economic pressures as risks to watch.
- JP Morgan raised its Apple price target from $340 to $360 while keeping an Overweight rating.
- The firm attributes reported iPhone 18 Pro production cuts to normal patterns, not falling demand.
- JP Morgan expects 8.5 million iPhone Duo units sold in the December quarter to offset the delayed standard iPhone 18.
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Published there as: “Apple gets a $360 price target from JP Morgan despite iPhone demand concerns”
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