KeyBanc Downgrades Apple to Underweight on Growth Concerns

Analyst
โดย GuruFocus·Read original
Summary · why it matters

KeyBanc Capital Markets downgraded Apple to Underweight with a $250 price target, citing softening demand and growth headwinds. The firm's June tracking showed spending fell 2% from May, compared with an average 9% increase over the past three years. KeyBanc believes some of last year's demand was pulled forward ahead of expected tariff changes, and that boost may now be fading. It also sees pressure from higher iPhone prices, slower upgrade cycles, and reduced carrier subsidies, which could make it harder for Apple to meet Wall Street's growth expectations. Services revenue is expected to grow about 7% in fiscal 2027, well below the roughly 12% rate analysts currently expect, and the stock's valuation at about 35 times earnings is viewed as difficult to justify if hardware and user growth continue to slow.

Impact on stocks 2

Artificial Intelligence▲ · 1 stocks
Financials▲ · 1 stocks
© 2026 MarketDXNews