Apple's iPhone 16 Pro Demand Correction In Sight: Analyst Highlights Delivery Trends Across Global Markets
Portfolio Pulse from Anusuya Lahiri
JP Morgan analyst Samik Chatterjee maintains an Overweight rating on Apple Inc (NASDAQ:AAPL) with a price target of $265. The analyst notes that delivery lead times for iPhone 16 Pro models are stabilizing, indicating a correction in initial demand lag. The U.S., China, and Europe show varying trends in lead times, with Pro models remaining stable.
September 30, 2024 | 5:09 pm
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JP Morgan analyst Samik Chatterjee maintains an Overweight rating on Apple with a $265 price target. iPhone 16 Pro models show stabilizing delivery lead times, indicating a correction in initial demand lag.
The analyst's Overweight rating and price target of $265 suggest positive sentiment towards Apple's stock. Stabilizing lead times for iPhone 16 Pro models indicate a correction in initial demand lag, which is a positive sign for investors. The U.S., China, and Europe show varied trends, but the overall stabilization is likely to support Apple's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100