Apple Stock Downgraded by Jefferies Analysts Due to Unrealistic Expectations for iPhone Models
Jefferies analysts downgraded Apple stock to Underperform from Hold, citing unrealistic expectations for upcoming iPhone models and the upgrade cycle. The firm also lowered the price target for Apple shares. This downgrade led to a 1.2% drop in Apple's stock price. Analysts highlighted concerns about excessive expectations for the forthcoming foldable iPhone and the replacement cycle. The downgrade reflects doubts about the potential success of new iPhone models and their impact on Apple's stock performance.