JPMorgan issues Apple buy rating then reports first quarterly earnings miss since 2023
JPMorgan gave Apple a buy rating with a $340 price target on October 12, then reported its first quarterly earnings miss since late 2023 the next day.
Why it matters
The simultaneous Apple buy rating and JPMorgan earnings miss show diverging analyst views on technology versus banking sector prospects. The earnings miss ended a streak of beats for the largest U.S. bank and highlighted weakness in fixed-income trading, while equity trading strength and Goldman Sachs' strong quarter created mixed signals for financial stocks.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
size of the move
1.71%
The Crypto Basic
4%
Crypto News (CryptoNews.net)
The Crypto Basic reports 1.71%, Crypto News (CryptoNews.net) reports 4% (57% apart).
reported results (revenue)
$15.3 billion
The Crypto Basic
$10.3 billion
Crypto News (CryptoNews.net)
The Crypto Basic reports $15.3 billion, Crypto News (CryptoNews.net) reports $10.3 billion (33% apart).
size of the move (business revenue)
11%
The Crypto Basic
49%
Crypto News (CryptoNews.net)
The Crypto Basic reports 11%, Crypto News (CryptoNews.net) reports 49% (78% apart).
reported results (revenue)
$15.3 billion
The Crypto Basic
$18.68 billion
Crypto News (CryptoNews.net)
The Crypto Basic reports $15.3 billion, Crypto News (CryptoNews.net) reports $18.68 billion (18% apart).
Key facts
JPMorgan gave Apple a buy rating with a $340 price target on October 12
340 USDReported by Finbold
Apple share price was approximately $336 at the time of the JPMorgan rating
336 USDReported by Finbold
TipRanks data showed a moderate buy consensus on Apple with 16 buy, 11 hold, and 4 sell ratings
Reported by Finbold
JPMorgan Chase reported third-quarter earnings of $5.57 per share
5.57 USDReported by The Crypto Basic
LSEG estimates expected JPMorgan Chase earnings of $5.85 per share
5.85 USDReported by The Crypto Basic
What happened
Finbold reported on October 12 that JPMorgan assigned Apple a buy rating and a $340 price target, noting the target implies only 1% upside from the then-current $336 share price and citing TipRanks data showing a moderate buy consensus among 31 analysts. The following day, The Crypto Basic and Bitcoin.com News reported that JPMorgan Chase missed third-quarter earnings expectations, its first miss since late 2023, with earnings of $5.57 per share against LSEG estimates of $5.85. Net income rose 6% year over year to $15.3 billion and managed revenue climbed 8% to $50.9 billion, though results included $658 million in investment securities losses. Fixed-income trading revenue fell to $5.37 billion while equity trading revenue surged 49% year over year to approximately $5 billion. Bitcoin.com News noted the earnings miss coincided with a semiconductor selloff and bitcoin recovering to $83,445 after liquidations.
How the story developed
- First report
First report by Finbold
JPMorgan sets Apple stock price target
- Update
JPMorgan issues Apple buy rating and price target
Finbold reports JPMorgan assigns Apple a buy rating with $340 price target on October 12
- Official statement
JPMorgan Chase reports third-quarter earnings miss
The Crypto Basic reports first quarterly earnings miss since late 2023 with EPS of $5.57 vs $5.85 estimate
- Official statement
Official statement from Bitcoin.com News
Wall Street Earnings, Sliding Chip Stocks Keep Bitcoin’s Price at Bay
- Update
Market reaction and broader context
Bitcoin.com News reports JPMorgan earnings miss coincides with semiconductor selloff and bitcoin recovery to $83,445
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 12 Oct 2026, 09:38 UTC: Finbold — 1 independent source, 1 reports
- 13 Oct 2026, 13:58 UTC: The Crypto Basic — 2 independent sources, 2 reports
- 13 Oct 2026, 14:08 UTC: Crypto News (CryptoNews.net) — 3 independent sources, 3 reports
- 13 Oct 2026, 17:30 UTC: Bitcoin.com News, official — 4 independent sources, 4 reports
Affected entities
Also mentioned: Nasdaq, South Korea, Ethereum, Binance, XRP, Bitfinex
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bitcoin.com News Company, official | Wall Street Earnings, Sliding Chip Stocks Keep Bitcoin’s Price at Bay | Independent | |
| Finbold Crypto media | JPMorgan sets Apple stock price target | Original | |
| The Crypto Basic Crypto media | JPMorgan Stock Rises Despite First Earnings Miss Since 2023 | Syndicated | |
| Crypto News (CryptoNews.net) Aggregator | JPMorgan Stock Rises Despite First Earnings Miss Since 2023 | Syndicated | |
| Crypto News (CryptoNews.net) Aggregator | Wall Street Earnings, Sliding Chip Stocks Keep Bitcoin's Price at Bay | Syndicated |
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