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.