Cavs win streak halted after Magic comeback
Cleveland, the runaway Eastern Conference leaders, had looked poised to extend their franchise-record winning run after surging clear of Orlando early in the third quarter.
But after a season where they have staged hefty winning comebacks of their own, the tables turned on Cleveland in the face of a furious burst of Orlando scoring.
The Magic outscored Cleveland 35-23 in the third quarter, with Franz Wagner leading the charge with nine points and Banchero adding seven.
Although Cleveland led by a slender 83-82 margin heading into the fourth quarter, and threatened to stretch away once more after Donovan Mitchell's driving layup made it 91-84, Orlando refused to roll over.
Eight more points from Wagner in the final frame and five apiece from Banchero and Kentavious Caldwell-Pope saw the Magic home to silence a 19,432 sellout crowd at Cleveland's Rocket Arena.
Former No. 1 NBA Draft pick Banchero finished with 24 points, 11 rebounds and seven assists while Wagner added 22 points with eight rebounds and two assists as Orlando improved to 32-37 to remain eighth in the Eastern Conference standings.
Mitchell led the Cleveland scoring with 23 points, with Jarrett Allen finishing on 20 and Darius Garland adding 19.
In Sunday's other early game, the Philadelphia 76ers scored an upset 130-125 win over the Dallas Mavericks on the road.
Quentin Grimes led the scoring for a depleted Sixers line-up missing Joel Embiid, Tyrese Maxey and Kelly Oubre Jr, finishing with 28 points.