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](https://appleinsider.com/articles/26/06/17/ai-driven-ship-shortages-to-cause-apple-product-price-increase-says-cook), [price increases](https://appleinsider.com/articles/26/06/25/apple-confirms-price-nikes-across-macs-ipads-and-more), and supply constraints. Investors expect that these problems will continue through December even if Apple finds ways to counteract their effects.

In a note seen by *AppleInsider*, JP Morgan shares that it believes high demand for products like the [iPhone 17](https://appleinsider.com/inside/iphone-17 "iPhone 17") and [MacBook Neo](https://appleinsider.com/inside/macbook-neo "MacBook Neo") has helped maintain momentum in the product cycle. [Siri AI's](https://appleinsider.com/inside/siri "Siri") impending launch will also help drive demand going into Q4 2026.

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