JP Morgan Turns Bullish On Apple

Algo Alert🚨 We Are Long Apple @ $289.26. Target 🎯 $350 • JPMorgan seeing Apple (NASDAQ:AAPL) shares outperforming the broader market, earning the tech giant a “top pick” designation • The firm cites the better-than-expected demand for iPhone 11 devices, revenue trend improvements in late April due to the government stimulus and iPhone SE, and “underappreciated leverage” in the work from home and distance learning trends, which benefit the iPad and Mac • JPMorgan also praises the resilience of Services revenue and Apple’s strong balance sheet, which enabled a 6% dividend increase and $50B added to the share repurchase program • The firm raises its FQ3 revenue forecast from $36B to $43B and the iPhone volume outlook from 15M to 22M units • Apple is maintained at an Overweight rating, and the price target is raised from $335 to $350 • Email to get invited into our Closed Door WhatsApp Group And Earn Quarterly Trading Returns

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