JPMorgan cuts Apple stock price target on soft iPhone 17 and AI

Apple's stock took a minor confidence hit today, as JPMorgan lowered its price target, though the firm kept its overall rating intact. The adjustment comes as analyst Samik Chatterjee and his team dial back expectations for Apple's medium-term revenue and earnings, citing weakening demand drivers tied to the upcoming iPhone 17 cycle. Here are the details. A 4.17% reduction, but with no change in rating Chatterjee cut his 12-month price target for AAPL from $240 to $230, citing weaker iPhone 17 expectations, ongoing macroeconomic headwinds, and a slower-than-expected path for Apple's AI strategy to deliver meaningful returns. Still, the overall…