JPMorgan trims its Apple (AAPL +0.7%) target from $235 to $233 and maintains an Overweight rating.
The firm revises its iPhone shipment estimates for calendar Q2-Q4 to 4% lower or $139.5M total. JPMorgan only "modestly" reduces the iPhone forecast for CY20 and CY21 but that outlook still sees shipment growth on the year.
Now read: What To Expect Of Apple's Earnings »
Subscribe for full text news in your inbox