This banking giant sees Apple stock rising after iPhone event

Core Viewpoint - JPMorgan has raised its price target for Apple to $255, indicating an 'Overweight' rating as the company prepares for its upcoming iPhone event, suggesting a potential upside of nearly 10% from the last market closing price of $232 [1][3]. Group 1: Product Launches and Market Strategy - Analyst Samik Chatterjee noted that while Apple's fall product launches usually have predictable outcomes, this year's lineup could provide modest upside in both hardware and pricing [4]. - The introduction of the iPhone Air, a slimmer model aimed at a broader consumer base, is expected to be a key driver for Apple's performance in the next fiscal year, with supply chain estimates targeting 10 to 15 million units for the second half of 2025 [5]. - Apple's pricing strategy in China, particularly for smartphones priced below CNY 6,000 (approximately $840), could leverage a 15% subsidy, enhancing its competitive edge and supporting medium-term growth [6]. Group 2: Financial Performance and Shareholder Value - Apple stock is regaining momentum after a period of volatility, with new AI-powered features potentially initiating a fresh iPhone upgrade cycle [7]. - The services segment, including the App Store, Apple Music, and iCloud, continues to expand, contributing to higher margins and steady recurring revenue from over two billion active devices [7]. - A $100 billion buyback program is expected to enhance shareholder value by boosting earnings per share [7].