Saturday, July 24

Apple stock

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Apple has 21% upside potential as iPhone 13 sales set to surpass investors’ low expectations, JPMorgan says

Apple CEO Tim Cook inspects the new iPhone XR during an Apple special event at the Steve Jobs Theatre on September 12, 2018 in Cupertino, California. Justin Sullivan/Getty Images Apple's upcoming iPhone 13 launch should help boost shares by 21%, according to JPMorgan.The bank raised its price target on Apple to $170 from $165 and reiterated its Overweight rating."We expect the outperformance beyond the September launch to be supported by iPhone 13 volumes outperforming relatively low investor expectations," JPMorgan said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Apple is primed to reverse its year-to-date underperformance relative to the S&P 500 in the second half of the year as the company prepares to launch its upcoming iPhone 13 in September, JPM...