- The shares of Apple (AAPL) recently received a $200 price target. These are the details.
The shares of Apple (AAPL) recently received a $200 price target.
Price target: $200
Rating: Overweight
Analyst firm: JPMorgan
JPMorgan analysts adjusted the rating while noting that the impact of the supply chain challenges that Apple is facing related to the operations at Hon Hai’s assembly facility in Zhengzhou, China are tough to quantify.
So they moderated the iPhone shipment for the December quarter to 74 million from 82 million. And now they are forecasting fiscal first-quarter iPhone and total revenues to decline year-over-year.
Plus JPMorgan analysts believe the limited impact on demand for the iPhone 14 product cycle through 2023 and the opportunity to address the shortfall in the March quarter could give long-term investors several attractive buying opportunities into the shares through to the year-end.
