JPMorgan’s analysts adjusted their price target for Apple (NASDAQ:AAPL) to $210 from $215, yet maintained their Overweight rating. The analysts observed that despite challenges related to hardware demand and services growth, broader investor interest in Apple has increased. This interest persists even as the company faces headwinds, such as difficulties in iPhone sales, including in key markets like China, and the cancellation of potential automotive revenue streams.
Furthermore, services growth could be impacted by increasing regulatory scrutiny across various regions. These factors, the analysts noted, are concerning for long-term investors, yet they present hedge funds with tactical opportunities, especially in anticipation of an AI-driven upgrade cycle.