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9to5mac
Following Apple’s Q4 2026 guidance, JP Morgan cuts its target for the company’s stock
After reviewing Apple's Q4 2026 results, JP Morgan has revised its price target for the company's stock from $345 to $350. The investment bank noted that while products like the iPhone 17 and MacBook Neo are experiencing strong demand, significant supply constraints due to a worsening memory shortage are expected to impact the iPhone, iPad, and Mac. This follows a report of a 5% decline in iPad revenue and a slowdown in services growth due to various challenges, including changes in the App Store. Apple's stock fell sharply following the announcement, reflecting the market's concern over future revenue streams.
MonitorConfidence: MediumShort term horizonSupply chain risk: High
Published 31 Jul 2026, 18:30 UTC1 min read
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Summary
TL;DR
- JP Morgan lowers Apple’s stock target from $345 to $350.
- Apple reported supply constraints due to a memory shortage.
- iPad revenue dropped by 5% in the recent quarter.
- Services growth slowed, impacted by regulatory changes.
- Apple's stock dropped 8.6% after the quarterly results.
Interesting facts
- Apple briefly surpassed a $5 trillion market valuation prior to the stock drop.
- iPhones, iPads, and Macs make up about 64% of Apple's Q4 revenue.
Coverage gaps