Apple Analyst Says 'Confidence In The AI Upgrade Cycle Is Starting To Show'
Portfolio Pulse from Surbhi Jain
JPMorgan analyst Samik Chatterjee reiterates an Overweight rating for Apple Inc. (NASDAQ:AAPL) following its strong Q3 FY2024 results. Chatterjee highlights Apple's focus on AI as a key growth driver, with upcoming AI features in iPhone 16, iOS 18, iPadOS 18, and macOS Sequoia. Apple's Q3 revenue of $85.8 billion exceeded estimates, and the company is set to expand AI-driven features internationally. Chatterjee maintains a price target of $265 for December 2025, citing AI as a significant opportunity for Apple.
August 02, 2024 | 2:21 pm
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JPMorgan analyst Samik Chatterjee reiterates an Overweight rating for Apple Inc. (NASDAQ:AAPL) following strong Q3 FY2024 results. Chatterjee highlights Apple's focus on AI as a key growth driver, with upcoming AI features in iPhone 16, iOS 18, iPadOS 18, and macOS Sequoia. Apple's Q3 revenue of $85.8 billion exceeded estimates, and the company is set to expand AI-driven features internationally. Chatterjee maintains a price target of $265 for December 2025, citing AI as a significant opportunity for Apple.
The reiteration of an Overweight rating by a JPMorgan analyst, coupled with strong Q3 results and a focus on AI, is likely to positively impact Apple's stock price in the short term. The analyst's price target of $265 by December 2025 further supports a bullish outlook.
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