JP Morgan lowers Apple price target on supply constraint worries, still bullish long-term

While price increases didn't worry the investors at JP Morgan, ongoing supply chain constraints will have a short-term impact, and thus their new price target is $340. Apple's record-breaking quarter wasn't enough to keep investors from worrying It's been a bumpy few months for Apple thanks to RAM shortages , price increases , and supply constraints. Investors expect that these problems will continue through December even if Apple finds ways to counteract their effects.