JPMorgan raised Apple's target price from $290 to $296, rating it overweight because of the sales potential of products expected to be released in 2020 and 2021.Apple shares rose 0.2% before the session. In a December 1 report to customers, analyst Samik Chatterjee wrote that early signs of the iPhone product cycle 2020 / 2021 provide more and more reasons to be optimistic.
Four are expected in the second half of next yearIPhoneThe model launches; all four devices "will support 5g and provide wider screens for consumers to choose from, so the product replacement cycle may be accelerated.".
JPMorgan predicts 2020AppleIt will sell 203 million iPhones, up to 205 million in 2021, compared with previous estimates of 199 million and 201 million, respectively.