Apple Stock Downgraded on 'Excessive Expectations.' Shares Are Falling. -- Barrons.com-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Apple Stock Downgraded on 'Excessive Expectations.' Shares Are Falling. -- Barrons.com

Dow Jones10-03

By Mackenzie Tatananni

Apple stock was downgraded on Thursday with analysts at Jefferies sounding the alarm over unrealistic expectations for upcoming iPhone models as well as the upgrade cycle.

Jefferies analysts cut their rating on shares of the iPhone maker to Underperform from Hold on Friday. The firm also lowered its price target to $205.16 from $205.82. Apple shares were down 0.7% at $255.33 in premarket trading, while futures tracking the benchmark S&P 500 and Nasdaq Composite were flat.

In the firm's view, expectations for the forthcoming foldable iPhone is too high. Better demand for the iPhone 17, which Jefferies partly attributes to a price cut on the base model rather than new innovations, already is priced into the stock, the firm argued. "That has led to excessive expectations on 18 Fold, and the replacement cycle," analysts wrote.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 03, 2025 08:45 ET (12:45 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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