J.P. Morgan ups Apple PT to $280 on iPhone 17 demand
** J.P. Morgan raises PT on iPhone maker Apple AAPL.O by $25, citing strong demand in the early launch days of iPhone 17 series and robust multi-year growth outlook
** The new price target of $280 represents a 17.7% upside to the stock's last close
** Brokerage expects iPhone volumes of 236 million in FY26, which combined with tailwinds should support mid- to high-single digit iPhone revenue growth
** JPM says momentum should build in FY26 with the foldable iPhone launch, driving a stronger upgrade cycle and resulting in low double-digit iPhone revenue growth in FY27
** 32 of 50 analysts rate the stock "buy" or higher and 16 "hold" and two "sell"; median PT is $245 - data compiled by LSEG
** Including session's moves, AAPL stock is down 3.1% YTD
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