Investment firm JP Morgan predicts that Apple will introduce AI with the 2025 iPhone 17 Pro, and has dropped its current price target to $210 partly as a result.
Apple CEO Tim Cook
Apple CEO Tim Cook
JP Morgan trimmed its Apple price target from $225 to $215 in February 2024, citing declining iPhone demand in China. Part of the new drop to $210, announced in a note seen by AppleInsider, is around the best time to get back into Apple stock ahead of the expected AI iPhone.
The investment firm thinks that the addition of AI features resembles when Apple introduced 5G to the iPhone. That prompted more upgrades because of 5G’s clear speed benefits, and that drove up the share price.
Originally appeared here:
JP Morgan drops Apple target price over questions on when AI iPhone will launch