Jefferies Downgrades Apple to Underperform, Cites Canceled All-Glass iPhone

Analyst

โดย Insider Monkey·

Summary · why it matters

Jefferies downgraded Apple to underperform from hold on August 10, cutting its price target to $263.66 from $285.56 and implying roughly 16% downside from Friday's close of $313.33. Analyst Edison Lee said supply chain checks show Apple has canceled its planned all-glass 20th-anniversary iPhone, expected to launch in September 2027, due to poor production yield. Jefferies also trimmed its fiscal 2028 earnings forecast by 2.1%. Shares fell about 1.3% to 1.5% on the news.