JP Morgan Raises Apple (AAPL) Price Target to $360

JP Morgan has reiterated its Overweight rating on Apple Inc. with a new price target of $360, a 5.38% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 1:53 PM EDT

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JP Morgan raised its price target on Apple Inc. ($AAPL) to $360 from $340 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $AAPL is up 0.7% to date (from the $340.97 close on Oct 12, 2026).

AAPL Apple Inc.

$343.46 +27.08% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, JP Morgan maintained its Overweight rating on Apple Inc. (AAPL) and raised its price target from $340 to $360.
JP Morgan's $360 price target implies 5.38% upside from Apple Inc.'s ($AAPL) current $341.62 share price.
As of October 16, 2026, Apple shares were recently trading around $341.62, which is 5.1% above the 50-day moving average.
Apple has a market cap of about $4.99 trillion, with a trailing twelve-month revenue of $466.8 billion and a P/E ratio of 39.22.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Apple Inc. alert may contain errors. Disclosures

JP Morgan has reiterated its Overweight rating on Apple Inc. (AAPL) and increased its price target from $340 to $360 on October 12, 2026. This update comes as Apple continues to perform well in the technology sector, particularly in consumer electronics.

Other Institutional Activity in Apple

Blackrock Inc. holds 1,162,996,939 shares of Apple, valued at approximately $399.4 billion, after adding 18,314,912 shares, a 1.6% increase. Vanguard Capital Management LLC increased its stake by 5,246,239 shares, bringing its total to 959,107,911 shares worth about $329.4 billion, a 0.5% rise. State Street Corporation also boosted its position, adding 12,770,030 shares for a total of 615,129,929 shares valued at around $211.3 billion, reflecting a 2.1% increase.

Apple Inc. Stock Down 0.4%

As of October 16, 2026, Apple shares were trading around $341.62, which is above its 50-day moving average by 5.1% and its 200-day moving average by 16.9%. However, the stock is about 1.9% below its 52-week high of $348.15. This positioning indicates a solid performance relative to its moving averages but suggests some room for growth to reach its recent peak.

12-month forecast

$AAPL price target

Apple Inc. daily closes and this analyst's $360 target. Not advice.

Recent Earnings

Apple reported trailing twelve-month revenue of approximately $466.8 billion, with a net margin of 27.6% and a return on equity (ROE) of 148.8%. The company is expected to announce its next earnings on November 2, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 72/100

Reported Apr 30, 2026

Forward outlook
10 analysts raised price targets.
EPS & revenue
EPS beat estimates by 1.1%. Revenue missed estimates by 0.6%.
Profit surprise
EBITDA beat by 2 percent. Operating income beat by 3 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
10 target raises.
Earnings quality
Gross margin up 2.2 points. Operating margin up 1.2 points. Positive free cash flow.

Earnings Call Summary

Apple delivered its best-ever quarter with 143.8 billion dollars in revenue, up 16 percent. iPhone surged 23 percent to 85.3 billion dollars driven by strong customer demand for the iPhone 17 lineup and record upgraders in China and India. Services hit an all-time record of 30 billion dollars, up 14 percent, while the installed base reached 2.5 billion active devices. Management highlighted Apple Intelligence features resonating with users and expanded retail presence in India as growth drivers.

Guidance Apple expects March quarter revenue to grow 13 percent to 16 percent year over year, with services growing at a similar rate to December. Gross margin should land between 48 percent to 49 percent. The company faces iPhone supply constraints from advanced chip demand but remains confident in the business outlook.

Slightly positive report. The quarter was acceptable, but the forward setup is not strong.

Insider Buying and Selling at Apple Inc.

Several insiders sold shares on October 2, 2026, including Timothy D. Cook, who sold 191,753 shares valued at about $63.8 million. Other notable sales included Deirdre O'Brien, who sold 46,389 shares worth approximately $15.5 million, and John Ternus, who sold 25,412 shares valued at around $8.5 million. These transactions were not part of a planned sale under Rule 10b5-1.

Analysts Set New Price Targets

On October 12, 2026, JP Morgan maintained its Overweight rating and raised its price target to $360. Earlier, on September 29, Morgan Stanley also reiterated its Overweight rating with a target of $360. The consensus among analysts now suggests a mean price target of $329.38, with 39 analysts providing opinions on the stock.

About Apple Inc.

Apple Inc., headquartered in Cupertino, California, designs and manufactures a wide range of consumer electronics, including iPhones, Macs, and iPads. The company is known for its innovative products and strong brand loyalty, which have contributed to its substantial market presence and financial success.

Bottom Line

Investors will be watching Apple's upcoming earnings report on November 2, 2026, for insights into its continued performance. Further analyst ratings and price target adjustments may also follow as the company navigates the competitive technology landscape.