Toro Company vice president Amy Dahl to depart at end of September
Investing.com - JPMorgan has raised its price target on Apple (NASDAQ:AAPL) to $280.00 from $255.00 while maintaining an Overweight rating, citing favorable early demand for the iPhone 17 series. The new target sits well within the current analyst range of $175-$300, with Apple trading at $237.88. According to InvestingPro analysis, Apple currently appears overvalued relative to its Fair Value.
The investment bank now forecasts iPhone volumes of 236 million in fiscal year 2026, representing a 2% year-over-year increase. Combined with mix tailwinds, JPMorgan expects this to support mid- to high-single digit iPhone revenue growth. This outlook aligns with Apple’s current momentum, as the company generated $408.62 billion in revenue over the last twelve months, with a healthy gross margin of 46.68%.
JPMorgan anticipates momentum to accelerate in fiscal year 2026 with the launch of the foldable iPhone, setting up a stronger upgrade cycle in fiscal year 2027. This product introduction, along with pricing tailwinds, leads to the firm’s forecast of low double-digit iPhone revenue growth in fiscal year 2027.
The bank projects overall company revenue growth to mirror iPhone performance, with 7% growth in fiscal year 2026 followed by 10% growth in fiscal year 2027. These projections reflect iPhone revenue tailwinds, improved confidence in gross margin progression amid favorable tariff treatment, and resilient Services growth.
While JPMorgan forecasts materially higher gross profits in coming years, it notes that net income and EPS upside will be moderated by higher operating expenses as Apple supports its Apple Intelligence efforts. For deeper insights into Apple’s financial health (currently rated as GOOD by InvestingPro) and access to 12+ additional ProTips, consider exploring the comprehensive Pro Research Report available on the platform.
In other recent news, Apple has been in discussions with suppliers about potentially beginning test production of foldable iPhones in Taiwan, with an eye toward mass production in India by 2026, as reported by Nikkei. Meanwhile, Tigress Financial Partners has raised its price target for Apple to $305, citing the company’s aggressive AI innovation and expanding U.S. supply chain investments as factors for expected revenue growth. UBS has maintained a Neutral rating with a $220 price target for Apple, noting mixed demand for the iPhone 17 based on early preorder data. Evercore ISI continues to hold an Outperform rating with a $260 price target, highlighting strong carrier promotions for the new iPhone 17 lineup, which includes up to $1,100 off with eligible trade-ins. Additionally, Oppenheimer has reiterated a Perform rating on Apple, stating that Meta’s new Ray-Ban Display smart glasses do not pose a threat to Apple’s ecosystem. These developments reflect Apple’s ongoing strategic initiatives and market responses to its latest product offerings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.