JP Morgan raises AAPL price target to $425 on 'long-term earnings trajectory'

Investment bank JP Morgan has raised its AAPL price target to $425 on Apple's long-term upside as its near-term performance "surprises" investors.

Credit: Andrew O'Hara, AppleInsiderCredit: Andrew O'Hara, AppleInsider
In a note to investors seen by AppleInsider, lead analyst Samik Chatterjee says that analysts looking for further Apple upside "have to focus on the longer-term earnings trajectory rather than expect near-term upside."