"Our more bearish view in relation to the volume outlook for iPhone 17 series is in conjunction with our unchanged expectations for a stronger cycle in iPhone 18 series with the launch of a foldable smartphone as well as further progress in relation to AI features." — Analyst Samik Chatterjee

Read More J.P. Morgan trims its Apple target $10 to $230

"The resilience of revenue and earnings estimates as well as a proven track record of earnings protection in downturns remains key to investors still looking at Apple shares favorably despite the uncertainty." — Analyst Samik Chatterjee

Read More J.P. Morgan: Damn the tariffs... full speed ahead