Apple price target raised to $305 from $290 at JPMorgan

JPMorgan raised the firm’s price target on Apple (AAPL) to $305 from $290 and keeps an Overweight rating on the shares following the fiscal Q4 report. The firm says iPhone momentum is driving the company’s stronger than expected guidance in additional to a “higher than usual level of confidence from the management.” Apple’s fiscal Q2 outlook of 10%-12% revenue growth would mark the strongest revenue growth since Q1 of 2022, the analyst tells investors in a research note. JPMorgan upped its revenue growth forecasts “materially” on Apple’s product cycle momentum, which it sees sustaining.