Locator: 49894AAPL.
JPM
citing a "supercycle, " JPM raises AAPL's target fprice from $305 to $315. That's equates to about 20% appreciation.
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India
India hands Apple another gift:
In a significant 2026 budget move, the Indian government has relaxed tax rules for foreign companies, directly benefiting Apple by allowing it to fund, supply, and own manufacturing machinery for its local contractors (like Foxconn and Tata) without incurring "business connection" income tax risks. This enables faster, cost-efficient manufacturing expansion and supply chain diversification.
Key Details of the Decision:
- tax rule relaxation: India announced in the 2026-27 budget that, to promote local manufacturing, mere ownership of machinery by a foreign firm in a contract manufacturer's facility will not lead to tax liabilities.
- impact on Apple: previously, if Apple funded expensive machinery for its Indian contractors, it risked being taxed on that arrangement under Indian law. The relaxation eliminates this "deal-breaking" risk.
- expansion strategy: this change allows Apple to increase its manufacturing footprint within India with greater ease, complementing its goal to diversify manufacturing away from China.
- context: the decision follows intense lobbying by Apple to remove legal hurdles to expansion. The move is considered a major win for Apple, supporting its strategy to treat India as a critical, global manufacturing hub.
