JP Morgan has trimmed its Apple price target to $200 from $205 because of touch macroeconomic conditions, despite the company’s strong March quarter results that prove it’s a “safe haven” for investors.

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In an note to investors seen by AppleInsider, JP Morgan lead analyst Samik Chatterjee notes that Apple managed to deliver upside to revenue and earnings amid geopolitical disruptions, supply chain constraints, and a resurgence of Covid-19 in some regions.

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