JP Morgan dismisses iPhone cuts report, hikes AAPL target to $360

JP Morgan raised its Apple price target by $20 to $360 and told investors to ignore reports of weak iPhone 18 Pro demand. Analysts attribute the order cuts to routine seasonal adjustments and the split 2026 iPhone launch, projecting around 8.5 million iPhone Duo units sold by the December quarter.

• JP Morgan raised its AAPL target from $340 to $360
• Analysts dismiss reports of weak iPhone 18 Pro demand
• iPhone Duo sales forecast at around 8.5 million units
• December quarter revenue seen up about 2% year over year