Following Apple’s Q4 2026 guidance, JP Morgan cuts its target for the company’s stock

JP Morgan lowered its price target for Apple Inc. stock from $345 to $350 following Apple's Q3 2026 earnings report, which warned that memory shortages will significantly worsen supply constraints in the September quarter. The bank remains bullish on demand for iPhone 17 and MacBook Neo, and expects Siri AI's launch to drive demand in Q4 2026. Apple's stock fell 9.6% to $301.41 after the report, which also showed a 5% drop in iPad revenue and slowing Services growth due to regulatory changes and the Epic Games dispute.

A few weeks ago, JP Morgan set a $345 price target https://9to5mac.com/2026/07/07/j-p-morgan-raises-apple-stock-target-to-345-despite-hardware-price-hikes/ for Apple’s stock through December 2027. Following yesterday’s quarterly results https://9to5mac.com/2026/07/30/apple-reports-q3-2026-earnings-109-4-billion-in-revenue-up-16/ , the investment bank has slightly lowered its outlook. Here are the details. JP Morgan lowers AAPL target As reported by AppleInsider , JP Morgan has lowered its price target for Apple’s stock from $345 to $350. From AppleInsider : In a note seen by AppleInsider, JP Morgan shares that it believes high demand for products like the iPhone 17 and MacBook Neo has helped maintain momentum in the product cycle. Siri AI’s impending launch will also help drive demand going into Q4 2026. JP Morgan’s revision came after Apple reported https://9to5mac.com/2026/07/30/apple-reports-q3-2026-earnings-109-4-billion-in-revenue-up-16/ its quarterly results yesterday and warned https://9to5mac.com/2026/07/30/apple-warns-supply-constraints-will-increase-significantly-next-quarter/ that the memory shortage will significantly worsen supply constraints during the September quarter, particularly for the iPhone, iPad, and Mac. Typically, these three segments account for roughly 64% of Apple’s revenue during its fourth fiscal quarter. In yesterday’s report, Apple also posted a 5% drop in iPad revenue and addressed a slowdown in Services growth https://9to5mac.com/2026/07/30/apple-says-app-store-regulatory-changes-are-beginning-to-affect-services-growth/ , due in part to weaker App Store gaming revenue, regulatory changes in select countries, and its ongoing dispute with Epic Games, which is preventing it from collecting commissions on purchases completed through external links in the US. Apple’s stock opened down 8.6% today https://9to5mac.com/2026/07/31/apple-stock-opens-down-roughly-10-following-mixed-q3-2026-results/ and is currently trading at $301.41, a 9.6% drop from yesterday’s close. The market’s harsh reaction came just days after Apple briefly surpassed a $5 trillion market valuation, overtaking Nvidia as the world’s most valuable company. Apple is now 11% for the year. To read AppleInsider ‘s report, follow this link https://appleinsider.com/articles/26/07/31/jp-morgan-lowers-apple-price-target-on-supply-constraint-worries-still-bullish-long-term . Worth checking out on Amazon Geoffrey Cain – ‘Steve Jobs in Exile’ https://amzn.to/4v3CS5Q David Pogue – ’Apple: The First 50 Years’ https://amzn.to/46Y3nQj MacBook Neo https://amzn.to/47vJmkn Logitech MX Master 4 https://amzn.to/3KmIQN7 AirPods Pro 3 https://www.amazon.com/Apple-Cancellation-Translation-Headphones-High-Fidelity/dp/B0FQFB8FMG?tag=marcmendes-20 AirTag 2nd Generation – 4 Pack https://amzn.to/4sewc3a Apple Watch Series 11 https://amzn.to/46VomDB Wireless CarPlay adapter https://www.amazon.com/gp/product/B0F6T6N2B1?tag=marcmendes-20 FTC: We use income earning auto affiliate links. More. https://9to5mac.com/about/ affiliate our homepage http://9to5mac.com/ for all the latest news, and follow 9to5Mac on exclusive stories https://9to5mac.com/feature/exclusive/ , reviews https://9to5mac.com/guides/review/ , how-tos https://9to5mac.com/guides/how-to/ , and subscribe to our YouTube channel https://www.youtube.com/9to5mac