Apple price target raised to $265 from $245 at JPMorgan

JPMorgan raised the firm’s price target on Apple to $265 from $245 and keeps an Overweight rating on the shares. The firm established a year-end 2025 price target relative to its prior December 2024 price target heading into Apple’s fiscal Q3 earnings. The analyst expects investors to start to pivot to looking beyond 2024 and sees Apple as well positioned to drive higher confidence from the upcoming earnings print. Apple should reassure investors that the upcoming artificial intelligence replacement cycle earmarked to begin in earnest in fiscal 2025, and step-up further into fiscal 2026, is leveraging a more robust launchpad in fiscal 2024 with better than expected revenue drivers in iPhone as well as for the company in aggregate, the analyst tells investors in a research note. JPMorgan placed shares of Apple on “Positive Catalyst Watch” into the earnings print with a positive outlook for share price outcomes.