J.P. Morgan analyst Samik Chatterjee has maintained their bullish stance on AAPL stock, giving a Buy rating on September 10.
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Samik Chatterjee has given his Buy rating due to a combination of factors indicating strong demand for Apple’s latest iPhone models. The initial delivery lead times for the iPhone 17 series, particularly the base model, suggest a higher demand compared to the previous year’s iPhone 16 series. This trend is observed across major markets such as the US, Europe, and China, with delivery times extending beyond those seen in the prior year, signaling robust consumer interest.
In addition, the demand for the base version of the iPhone 17 is ramping up faster than internal expectations, which is a positive indicator for Apple’s sales performance. While the Pro versions are not seeing a significant shift in demand mix, the overall demand environment remains strong, supporting the Buy rating. These early trends imply that Apple’s new product lineup is well-received, which could translate into favorable financial performance for the company.
In another report released on September 10, Bank of America Securities also reiterated a Buy rating on the stock with a $270.00 price target.