On January 26th, JPMorgan highlighted that the demand for iPhones, which is stronger than anticipated, coupled with a reduction in operating expenses, has the potential to propel Apple's performance to exceed market expectations. The bank reaffirmed its 'overweight' stance on Apple, elevating the target price from $305 to $315. Apple is slated to reveal its financial results for the first quarter of fiscal year 26 on Thursday. JPMorgan analyst Chatterjee notes that while investor apprehensions linger over the impact of escalating memory costs on gross margins, the price sensitivity of iPhone demand, and the sluggish growth in certain App Store services, these concerns are somewhat eclipsed by the positive indicators. Among these positive signs, the robust demand for the iPhone 17 series stands out. Despite these concerns, the strong demand for the iPhone 17, along with decreased operating expenses, is still anticipated to drive Apple's revenue and earnings to surpass expectations in the first quarter.