Apple JP Morgan boosts target to $360 as iPhone Duo could help
Despite chatter about softer iPhone 18 Pro demand, JP Morgan boosts its price target, citing supply strategy and a potential duo launch to cushion the year.
JP Morgan raised Apple’s price target from $340 to $360 per share after reviewing market signals.
Reports of production cuts for the iPhone 18 Pro and Pro Max sparked early stock weakness, though shares recovered some losses.
The analyst note argues the cuts may align with Apple’s usual ramp strategy and could be offset by a staggered launch of the iPhone Duo.
A separate report claimed Duo orders could be up 30%, potentially helping full-year production approach 10 million units.
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JP Morgan lifted Apple’s price target to $360 per share, up from $340, even as reports of softer demand for the iPhone 18 Pro surface. The bank says supply moves could be part of Apple’s normal ramp schedule, and a staggered launch with an iPhone Duo might help keep revenue on track. Apple’s stock rebounded after an early dip. What this means for you: a steadier supply chain could help with device availability, and a Duo could offer new choices later in the year.
Next steps aren’t a forecast, but keep an eye on how Apple manages production and any real product details about the iPhone Duo if it appears.
Apple investors got a fresh forecast lift today. JP Morgan bumped the firm’s price target on Apple (AAPL) to $360 a share from $340, even as market chatter continues about softer demand for the iPhone 18 Pro. The move comes after reports that Apple asked some suppliers to slow component production for the iPhone 18 Pro and Pro Max due to what was described as soft demand. Those production notes initially sent Apple’s stock a bit lower before it rebounded later in the day.
JP Morgan’s note stresses that these production pauses may not signal a collapse in demand. Instead, the bank frames them as part of a measured approach to align supply with the company’s staggered launch rhythm. In other words, Apple could trim production to avoid piling up parts and excess inventory if demand doesn’t snap back immediately, while still hitting its longer-term growth targets.
A key piece of the puzzle is the rumored iPhone Duo, a separate launch that could supplement the traditional iPhone lineup. If the Duo materializes as described, it could help offset any shortfall from the absence of the regular iPhone 18 in the early weeks after launch. A China-based report suggested Apple lifted Duo orders by about 30%, which would push remaining-year production closer to 10 million units. JP Morgan’s scenario suggests that this added volume, plus continued services growth, could stabilize revenue even if the initial iPhone 18 wave is softer than expected.
What this means for investors is a nuanced take on Apple’s health: strong services, a diversified product strategy, and flexible supply planning could help the company weather a near-term demand wobble. JP Morgan reiterates an overweight rating on Apple, signaling they still view the stock as a relatively favorable bet versus the market, even if the near term looks choppier than hoped.
For everyday readers, the implications aren’t just about stock ticks. If Apple can keep production in step with demand, that could mean steadier product availability and less risk of price spikes around launch windows. And if the Duo does enter the lineup, customers might see more options and potentially different pricing strategies in the months ahead.
