Apple (NASDAQ:AAPL) Stock Price Target Raised at JPMorgan Chase & Co.

Apple (NASDAQ:AAPL) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $340.00 to $360.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the iPhone maker’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.87% from the company’s current price.

Several other brokerages have also recently issued reports on AAPL. Bank of America restated a “buy” rating and issued a $370.00 target price on shares of Apple in a report on Wednesday, September 23rd. China Renaissance lowered shares of Apple from a “buy” rating to a “hold” rating and decreased their target price for the company from $329.00 to $280.00 in a research note on Tuesday, August 4th. Phillip Securities increased their price target on Apple from $290.00 to $300.00 and gave the company a “neutral” rating in a report on Monday, September 14th. Citic Securities raised their price target on Apple from $300.00 to $349.00 in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Apple in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $340.39.

Apple Stock Performance

Shares of NASDAQ AAPL traded up $3.40 during trading on Monday, reaching $340.04. 15,026,305 shares of the company traded hands, compared to its average volume of 48,595,566. The firm has a 50 day simple moving average of $322.61 and a 200-day simple moving average of $303.36. Apple has a 52-week low of $243.42 and a 52-week high of $345.34. The stock has a market capitalization of $4.96 trillion, a PE ratio of 38.98, a P/E/G ratio of 2.68 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.13. Apple had a net margin of 27.62% and a return on equity of 135.46%. The firm had revenue of $109.42 billion during the quarter, compared to analysts’ expectations of $109.04 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Apple will post 8.75 earnings per share for the current year.

Insider Buying and Selling at Apple

In other news, SVP Jennifer Newstead sold 2,399 shares of Apple stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $332.01, for a total transaction of $796,491.99. Following the transaction, the senior vice president owned 39,593 shares in the company, valued at $13,145,271.93. This trade represents a 5.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy D. Cook sold 191,753 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $332.96, for a total transaction of $63,846,078.88. Following the sale, the insider directly owned 3,264,168 shares of the company’s stock, valued at approximately $1,086,837,377.28. The trade was a 5.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 279,383 shares of company stock valued at $92,912,517 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Apple

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avenir Tech Ltd purchased a new stake in Apple in the 2nd quarter worth $29,000. Longfellow Investment Management Co. LLC bought a new stake in Apple during the second quarter valued at about $30,000. Lifetime Wealth Management P.C. bought a new stake in Apple during the fourth quarter valued at about $41,000. Ascentis Wealth Management LLC lifted its position in shares of Apple by 822.7% in the second quarter. Ascentis Wealth Management LLC now owns 292,493 shares of the iPhone maker’s stock valued at $85,000 after acquiring an additional 260,792 shares in the last quarter. Finally, Basso Capital Management L.P. purchased a new position in shares of Apple in the fourth quarter valued at about $88,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple reportedly captured a record 22% of global smartphone market share in the third quarter, with strong iPhone 18 Pro demand helping offset a broader 20% decline in smartphone shipments and rising memory costs. Apple Stock Nears Record High As iPhone Market Share Hits 22% Despite 20% Smartphone Market Slump
• Positive Sentiment: Reports of strong orders for Apple’s new foldable iPhone are adding to optimism that the company can extend its premium-device growth beyond the conventional iPhone lineup. Apple Stock Gains on Reports of Strong Orders for New Foldable iPhone
• Positive Sentiment: JPMorgan raised its Apple price target and cited iPhone 18 Pro demand that is reportedly above last year’s level. Bank of America maintained a Buy rating and a $370 target, viewing the potential Starlink smartphone threat as manageable. Apple Stock Climbs as JPMorgan Lifts Target, BofA Reiterates Buy
• Positive Sentiment: Investors are also anticipating Apple’s October 13 smart-home announcements, including a potential HomeView hub, updated Apple TV and HomePod mini. These products could expand Apple’s ecosystem and address its weaker position in smart home devices. Will the HomeView be Apple’s First Smart Home Success?
• Neutral Sentiment: CEO succession from Tim Cook to John Ternus, along with Apple’s agreement to hire staff and license technology from podcast startup Huxe, provides strategic continuity and potential personalization benefits, but the financial impact remains uncertain. Apple Discloses Deal to Hire Team and License Tech From Huxe
• Negative Sentiment: Reports of reduced iPhone 18 production orders and elevated memory costs raise concerns about demand durability and pressure on margins. Apple is also trading above the average Wall Street target, leaving less room for disappointment ahead of its October 29 earnings report. Apple Stock Drops After Reports of Reduced iPhone 18 Production Orders
• Negative Sentiment: Samsung retained the global smartphone lead, while a possible Starlink phone could eventually challenge Apple in premium wireless devices. Apple Fails to Reclaim Global Smartphone Lead From Samsung

Apple Company Profile

Apple Inc is a technology company that designs, develops and markets consumer electronics, software and digital services. Its best-known products include the iPhone smartphone, Mac personal computers, iPad tablets, Apple Watch, AirPods and other accessories. The company also develops operating systems and software platforms, including iOS, macOS, iPadOS, watchOS and visionOS.

Apple’s services business includes the App Store, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+ and iCloud.