J.P. Morgan analyst Samik Chatterjee has maintained their bullish stance on AAPL stock, giving a Buy rating on November 6.
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Samik Chatterjee has given his Buy rating due to a combination of factors, primarily focusing on the strong demand for Apple’s iPhone 17 series. The elevated lead times for the Base model, in particular, suggest robust consumer interest, which is expected to drive significant year-over-year revenue growth for iPhones in the upcoming fiscal quarters.
Additionally, the moderation of lead times for the Pro and Pro Max models indicates a healthy balance between supply and demand, further supporting the positive outlook. The consistent demand across various regions, including the US, China, and Europe, underscores Apple’s strong market position and potential for continued growth, justifying the Buy recommendation.
In another report released on November 6, Morgan Stanley also assigned a Buy rating to the stock with a $305.00 price target.