JP Morgan raises Apple price target to $360 despite iPhone production reports

JP Morgan raised its price target for Apple Inc. shares by $20 to $360 today, maintaining an overweight rating on the technology giant. The analyst firm issued this update just days after Apple’s stock declined due to reports of production cuts for upcoming iPhone models.

According to 9to5Mac, JP Morgan argued that the reported component reductions align with Apple’s typical production patterns rather than indicating a sudden drop in consumer demand. The bank noted that the staggered release schedule for new devices is a known variable in Apple’s product cycle.

Market Reaction and Supply Reports

Apple shares fell roughly 2.5% in early trading last Friday after Nikkei Asia reported that Apple instructed select suppliers to cut component production for the iPhone 18 Pro and iPhone 18 Pro Max. Nikkei attributed these cuts to soft demand, citing multiple people familiar with the matter.

Despite the initial sell-off, Apple stock recovered much of the loss and closed at $340.97 today. JP Morgan’s new investor note, reported via AppleInsider, suggests that the market reaction may have overestimated the impact of these standard supply chain adjustments on overall sales figures.

Product Strategy and Revenue Outlook

JP Morgan expects the iPhone Duo to help offset the sales shortfall caused by the absence of the regular iPhone 18, which is expected to hit shelves early next year. This staggered launch strategy is central to the bank’s positive outlook on Apple’s near-term hardware revenue.

A separate report from China’s Securities Times claimed earlier today that Apple increased its iPhone Duo orders by 30%. This increase could bring production for the remainder of 2026 close to 10 million units, supporting JP Morgan’s projection of 8.5 million iPhone Duo sales in the December quarter.

JP Morgan projects a roughly 2% year-over-year decline in iPhone revenue but expects a 2% increase in Apple’s overall revenue. The firm continues to flag potential supply constraints and broader economic pressures that could affect consumer demand moving forward.

Who is affected

Investors holding Apple stock are the primary audience for this analyst update. The raised price target and maintained overweight rating signal continued confidence in Apple’s financial trajectory despite short-term supply chain noise.

Technology professionals tracking Apple’s hardware roadmap should note that the regular iPhone 18 is expected to launch early next year. The increased focus on iPhone Duo production suggests a strategic pivot to maintain market presence during the transition period.

What should you do?

Investors should review JP Morgan’s full investor note for detailed financial projections and risk assessments. Monitoring subsequent reports from Nikkei Asia and Securities Times will provide further context on actual production volumes versus initial estimates.

What to do and how to stay safe: Apple

• Review analyst reports from multiple firms to compare price targets and ratings.
• Monitor official Apple announcements for confirmed product launch dates.
• Track stock performance relative to broader market economic indicators.
• Assess supply chain news for potential impacts on product availability.

General security guidance from the Threat Times newsroom. It is not confirmed advice from the organisations named in this story.

Frequently asked questions

Why did JP Morgan raise its Apple price target?

JP Morgan views recent production cuts as consistent with normal patterns and expects iPhone Duo sales to offset the delayed iPhone 18 launch.

What caused Apple's stock to drop recently?

Nikkei Asia reported that Apple cut component production for iPhone 18 Pro models due to soft demand, causing a 2.5% dip.

When is the regular iPhone 18 expected to launch?

The regular iPhone 18 is expected to hit shelves early next year, according to JP Morgan’s analysis of Apple’s staggered release schedule.