JPMorgan thinks Apple will sell 226 million iPhones in fiscal year 2022What you need to know
The iPhone 13 might turn Apple's underperformance around.
JPMorgan believes the company will sell 226 million iPhones next fiscal year.
The iPhone 13 might outperform the iPhone 12 according to JPMorgan.
Apple has been underperforming compared to the S&P 500 this year, but that might turn around once the company releases all of its new products in the fall.
In a new investor note seen by Business Insider, JPMorgan believes that Apple's stock performance is set to turn around when the company announces the iPhone 13 in a few months. The bank has upgraded the price target for AAPL from $165 to $170, which would equate to a 21% increase in stock performance currently.
The bank believes that a number of factors contribute to their prediction, including lower investor expectations for the company.
"The upside pressure on volumes for the iPhone 12 series, historical outperformance in the July-September time period heading into launch event, and further ...
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JPMorgan thinks Apple will sell 226 million iPhones in fiscal year 2022
