Apple(US:AAPL) Benzinga·2026-01-26 13:18Core Viewpoint - JPMorgan has raised its price target for Apple Inc. to $315 from $305, reflecting confidence in the company's outlook and reaffirming an overweight rating on the stock [2]. Group 1: Growth Drivers - The increase in price target is attributed to better-than-expected iPhone demand and a reduction in operating expenses, which could lead to a 27% upside from the current stock price [2]. - Analyst Samik Chatterjee expects robust demand for the iPhone 17 and reduced operating costs to contribute to an earnings and revenue beat [4]. - Despite concerns over rising memory costs and pricing sensitivity, Chatterjee remains optimistic about Apple's future, highlighting multiple growth drivers beyond the App Store [3]. Group 2: Earnings Expectations - Bank of America analyst Wamsi Mohan predicts that Apple could achieve record first-quarter results, driven by strong iPhone sales and double-digit growth in Services [4]. - Mohan estimates that 85 million iPhones were sold in the quarter, projecting a 17% year-over-year increase in iPhone revenue, marking one of Apple's strongest quarters [4]. Group 3: Supply Chain Developments - Reports indicate that Apple is rekindling its chip partnership with Intel for its non-Pro iPhone models, which represents a significant shift in Apple's supply chain strategy [5]. Group 4: Stock Performance - Over the past year, Apple stock has climbed 7.91%, closing at $248.04, with a slight decrease of 0.12% on the last trading day [7].