Jefferies Downgrades Apple, Citing Canceled iPhone Model
Hyperdash NewsEquitiesJefferies downgraded Apple to Underperform from Hold and cut its price target to $263.66 from $285.56, implying 16% downside. The firm cited supply-chain checks indicating Apple's all-glass iPhone for September 2027 has been canceled due to production issues. Jefferies also reduced its FY2028 and FY2029 EPS estimates.
The firm had previously noted that Apple's valuation priced in an overly bullish iPhone outlook. In the minutes since the news, 
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