JP Morgan raises Apple stock price target by $20 to $345

JP Morgan raised its price target for Apple stock by $20 to $345, citing limited historical correlation between pricing and sales volumes for iPhone, Mac, and iPad, as well as AI-led demand for Macs. The firm expects short-term cost increases from RAM-driven hardware to have minimal long-term impact on revenue.

RAM-driven hardware cost increases won’t impact long-term revenue gains. In a note to investors seen by AppleInsider on Tuesday, JP Morgan has increased its price target for Apple to $345. This is an increase of $20 from January, when it last raised the stock target price to $325. The firm acknowledges the hefty price increases are going to be a short-term issue, with investors trying to judge how badly consumers will take the news. But even so, the news isn’t enough to dampen JP Morgan’s spirits. In its reasoning, JP Morgan first says that the historical data for sales volumes covering iPhone, Mac, and iPad show a “limited relationship” to pricing across multiple years. Essentially, consumers are going to buy Apple products anyway, and pricing doesn’t seem to matter too much. Mac sales are probably the most insulated in JP Morgan’s view, with more price point options and AI-led demand working in its favor. The iPhone also benefits from limited elasticity on the premium end. Those with larger budgets are less affected by price changes, it seems. Source: AppleInsider https://appleinsider.com/articles/26/07/07/bullish-jp-morgan-bumps-aapl-price-target-to-345?utm source=rss NB: Average target is $307.4, below current price of $312. A majority of analysts maintain a negative or neutral outlook on the company. Subscribe to Asymco One /one/ subscribe to read the rest of this and other in-depth analysis and commentary.