JPMorgan has lowered Apple’s stock price target from $240 to $230, citing weak iPhone 17 demand and slower-than-expected AI rollout. Here’s what it means for investors.
JPMorgan Trims Apple’s Price Target, But It’s Not All Doom and Gloom
Apple’s stock dipped slightly after JPMorgan revised its price target from $240 to $230, citing a less-than-rosy iPhone 17 outlook and slower-than-expected AI returns. But before you panic-sell your AirPods, here’s the full story.
What’s Behind the Cut?
According to Investor’s Business Daily, JPMorgan analyst Samik Chatterjee outlined a few reasons for the price revision:
- iPhone 17 demand may not shine like past cycles, especially with consumers possibly holding out for bigger upgrades.
- AI features are still cooking, with their financial impact expected later rather than sooner. Apple is expected to launch its upgraded Siri in 2026 with iOS 26.4.
- Macroeconomic uncertainty and global headwinds continue to weigh on consumer confidence.
Despite the revised target, JPMorgan still rates Apple stock as “Overweight”, meaning they believe Apple will outperform other stocks in the long run.
Looking Past iPhone 17, Enter iPhone 18
Interestingly, JPMorgan is already more bullish on iPhone 18, which could feature:
- A foldable iPhone (finally),
- More robust AI integration, and
- A wave of delayed-but-anticipated upgrades.
Related: iPhone 17 Air Preview: Rumored Features, Specs, Price & Release Details
The firm also noted that some iPhone purchases may have been pulled forward this year due to tariff concerns, leaving less demand for the iPhone 17.
China Helps Steady the Ship
For now, Chinese carrier subsidies and strong brand loyalty are expected to keep things relatively stable, even if fiscal 2026 growth slows. The real bump, JPMorgan believes, arrives in 2027, when Apple’s AI and foldable ambitions take center stage.
Apple stock closed slightly down at $201 (-0.28%), but with a long game in mind, analysts aren’t jumping ship just yet.
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