JP Morgan lowers Apple price target on supply constraint worries, still bullish long-term

JP Morgan lowered its Apple price target from $345 to $340, citing short-term supply chain constraints and higher component costs that could affect revenue and margins. The firm said demand for products such as the iPhone 17 and MacBook Neo remains strong, and it expects delayed sales rather than permanently lost sales. JP Morgan remains positive on Apple’s longer-term outlook, pointing to potential support from services revenue and future AI-related demand.

Summary generated July 31, 2026. AI summaries can make mistakes.