JPMorgan Raises Apple Price Target to $325

JPMorgan analyst Samik Chatterjee raised the price target on Apple (NASDAQ: AAPL) to $325.00 (from $315.00) while maintaining an Overweight rating.

“Apple delivered a print and an outlook that should calm investor nerves around memory-related impact to gross margins and a Services slowdown, even as the magnitude of iPhone revenue upsides is noteworthy in itself.

Record Product gross margins in the Dec-Q and an implied Mar-Q record Product gross margin should help reassure investors around the materiality of the impact that investors have been concerned about in relation to rising memory costs, even though management acknowledged slightly higher impact in Mar-Q than the Dec-Q.”

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