Apple's stock price fell in pre-market trading as Jefferies expressed concerns about the outlook for high-priced iPhones and downgraded its rating
Jefferies downgraded Apple's rating from Hold to Underperform, lowering the target price from $285.56 to $263.66. Due to the cancellation of the all-glass iPhone plan because of yield issues and rising storage chip costs, analysts believe that Apple's reliance on high-priced iPhones to drive growth faces challenges. As a result, Apple's stock price fell 1.3% in pre-market trading on Monday
Apple's stock price fell 1.3% in pre-market trading on Monday. Jefferies downgraded Apple's rating from Hold to Underperform, noting that Apple's product strategy of driving growth through the launch of higher-priced iPhones faces challenges.
Analyst Edison Lee stated that Jefferies' supply chain survey indicates that Apple has canceled its all-glass iPhone plan due to low yield rates.
"This poses a significant setback for Apple's efforts to launch higher-priced iPhones amid soaring storage chip costs."
Jefferies lowered its target price for Apple from $285.56 to $263.66.
Previously, Apple stock went ex-dividend on Monday
