Morgan Stanley and JPMorgan Bullish on Apple Inc. (AAPL) on Strong iPhone 17 Demand

Apple Inc. (NASDAQ:AAPL) is one of the best Nancy Pelosi stocks to buy in 2026. On January 26, JPMorgan raised its price target of Apple Inc. (NASDAQ:AAPL) to $315 from $305 while maintaining an Overweight rating.

According to the investment bank, Apple stock has underperformed the S&P 500 over the past two months. The underperformance has come amid positive indicators, including robust iPhone 17 demand, which affirms the need for a price target hike. The investment bank expects the company’s iPhone revenue to exceed expectations, given the 16% growth rate.

JPMorgan has also downplayed concerns about potential margin pressures due to higher memory costs. That’s because Apple boasts of long-term supplier contracts and scale advantages.

Similarly, Morgan Stanley has reiterated an Overweight rating on Apple stock and set a $315 price target. The investment bank expects the stock to trade sideways even as it insists iPhone 17 strength remains underappreciated. The company could face downside risk to June quarter EPS estimates owing to soaring memory costs headwinds that aren’t incorporated into consensus projections.

Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, personal computers, and wearables. It also develops proprietary software for iOS and macOS, and provides services such as the App Store, iCloud, Apple Music, and Apple Pay.

While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best Consumer Goods Stocks Billionaires Are Quietly Buying and Goldman Sachs Penny Stocks: Top 12 Stock Picks.

Disclosure: None. This article is originally published at Insider Monkey.