Key Stats for Apple Stock
- Price change for Apple stock in Last 5 Days: 11%
- $AAPL Stock Price as of Jul. 7: $311
- 52-Week High: $317
- $AAPL Stock Price Target: $316
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What Happened?
Apple (AAPL) stock is getting a lift after JPMorgan raised its price target to $345 from $325 while reiterating an Overweight rating.
Analyst Samik Chatterjee said the bank sees several reasons why Apple’s revenue and earnings could turn out much better than investors currently worry about.
The main concern on the Street right now is price elasticity of demand. That’s a fancy way of asking: will customers keep buying Apple products even after prices go up?
This question became especially relevant after Apple recently announced a 20% price hike on iPads and Macs.
Chatterjee’s view is that Apple should hold up just fine, since historical data show that demand for Macs and higher-end iPhones isn’t much affected when prices rise.
JPMorgan kept its fiscal 2027 EPS estimate largely steady at $9.85, another sign the firm isn’t worried this will meaningfully dent earnings.
This bullish view aligns with what Apple reported in its most recent quarter.
- Revenue came in at $111.2 billion, up 17% from a year earlier and a new March-quarter record, even though the company faced supply constraints on the iPhone and Mac.
- iPhone revenue alone grew 22% year-over-year to $57 billion, also a record for the quarter.
- CEO Tim Cook noted that customer satisfaction for the iPhone 17 family in the U.S. was recently measured at 99%, and the lineup has become the most popular in Apple’s history through the March quarter.
- Mac revenue grew 6% to $8.4 billion despite supply constraints due to unexpectedly high demand for models such as the Mac mini, Mac Studio, and the new MacBook Neo.
- Apple actually said it undercalled how popular the Neo would be.
- Services also hit an all-time high of $31 billion, up 16% year over year.
In separate news, Apple has reportedly begun testing DRAM chips from China’s state-backed ChangXin Memory Technologies (CXMT) for devices sold in China and is lobbying the U.S. government to allow broader use of the company’s chips.
This comes as CXMT is expected to grow its global DRAM market share from around 11% to 15% by 2028, competing directly with Samsung, SK Hynix, and Micron.
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What the Market Is Telling Us About Apple Stock
JPMorgan’s price target hike suggests Wall Street sees Apple stock as being unfairly punished by fears over the recent price increases.
The idea is that Apple’s customer base, especially for premium products, isn’t as price-sensitive as some investors assume.
That said, Apple’s exploration of Chinese memory suppliers adds a layer of geopolitical complexity worth watching, given how sensitive U.S.-China tech relations have become.
For now, though, strong demand trends across iPhone, Mac, and Services appear to be the bigger story supporting Apple stock’s outlook heading into the next few quarters.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
