Apple Q3 Earnings Preview: Will AI Elevate iPhone Maker's Stock?
Portfolio Pulse from Surbhi Jain
Apple Inc (NASDAQ:AAPL) is set to release its Q3 2024 earnings report, with JPMorgan analyst Samik Chatterjee predicting a strong performance driven by AI advancements. Chatterjee has raised the price target to $265 by December 2025, citing expected revenue and earnings beats, particularly from iPhone sales. The AI cycle is seen as a key growth driver, potentially boosting margins, volumes, and extending the replacement cycle.
July 24, 2024 | 6:47 pm
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JPMorgan analyst Samik Chatterjee has placed Apple on a ‘Positive Catalyst Watch,’ raising the price target to $265 by December 2025. The AI-driven future is expected to boost iPhone sales and overall revenue, with Q3 2024 revenue projected at $85.3 billion and EPS at $1.38, both above consensus estimates.
The positive outlook from JPMorgan, driven by AI advancements and strong iPhone sales, is likely to boost investor confidence and drive Apple's stock price higher in the short term. The raised price target and expected revenue and earnings beats further support this positive sentiment.
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