Apple launched its iPhone 11 series last month, while the first sell was a success, the question now is – how good has the 11 series sold this year?

Fortunately, JP Morgan Chase has raised the target price of  stock from $243 to $265. It is expected that the company's share price will rise by 21% and give an overweight rating.

In response, JPMorgan analyst, Samik Chatterjee said that the forecast of iPhone sales will be moderately raised, and investors' sentiment on Apple stocks is expected to improve significantly.

It also raised sales expectations for the 2020/2021 calendar year, mainly because of the expectation that Apple will launch the 5G-enabled iPhone product line in September 2020.

JPMorgan Chase currently expects Apple's iPhone shipments in the third quarter to be 1 million higher than previously expected, and shipments in the fourth quarter of this year will be 3 million higher than previously expected.

Apple will sell 198 million iPhones that support 5G in 2020; the sales of the 5G iPhone in 2021 will reach 200 million.
Axact

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