Apple Shares: $180 Target From JPMorgan

By Amit Chowdhry ● Aug 22, 2021
  • The shares of Apple Inc (NASDAQ: AAPL) have received a price target of $180 from JPMorgan. These are the details.

The shares of Apple Inc (NASDAQ: AAPL) have received a price target of $180 from JPMorgan. And JPMorgan analyst Samik Chatterjee reiterated an “Overweight” rating on the company shares.

Chatterjee had increased the price target from $175. And Chatterjee is continuing to see Apple shares set up for multiple catalysts into the back end of the year such as the upcoming iPhone 13 launch and low investor expectations for the total revenue for fiscal 2022 led by concerns relative to cycling past the peak upgrade cycle associated with 5G.

Plus Chatterjee also increased the 2022 iPhone volume estimates to 246 million units and sees substantial upside relative to the consensus expectations. And the estimated moderation in the upgrade rate to iPhone 13 relative to iPhone 12 will be offset by the higher volumes for a lower-priced phone as the 5G-enabled iPhone SE expected to be launched next year provides upside through the upgrade of a large installed base.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.