KEY TAKEAWAYS Apple shares fell Tuesday after Jefferies downgraded the stock to an “underperform” from “hold” on Monday.Jefferies noted that flagging iPhone sales and weak demand for its artificial intelligence (AI) features in newer models would lead the tech giant to undershoot quarterly revenue forecasts.
Today, analysts at Jefferies and Loop Capital each downgraded their ratings on Apple.
Several Wall Street analysts have cut their ratings or price targets on Apple stock ahead of the company's earnings report next week.
Shares of iPhone and iPad maker Apple (NASDAQ:AAPL) fell 4.1% in the morning session after Jefferies analyst Edison Lee downgraded the stock's rating from Hold to Sell, and echoed concerns about weak iPhone sales.
The latest Apple stock downgrade centers around iPhone sales and the weakening consumer electronics market. Here's what investors need to know.
Apple got hit with downgrades from Jefferies and Loop Capital on fears of slowing iPhone sales and a lack of demand around Apple Intelligence.
Today, hit a new four-month low, following a report from Bloomberg indicating the company has seen an 18% slide in iPhone sales in China during the holiday season. The stock is also reeling from two downgrades by Loop Capital and Jefferies.
Jefferies downgraded the Apple stock to "underperform" from "hold" and lowered its price target to ₹200.75 from ₹211.84.
Wall Street's sentiment on Apple (AAPL) is turning bearish, with firms like Loop Capital and Jefferies downgrading the smartphone giant. Creative Strategies CEO and principal analyst Ben Bajarin joins Market Domination to share his perspective on the company's outlook.
Apple whose share price is down nearly 9% in less than three weeks since the start of trading this year, now has analysts downgrading its overall share performance. Apple’s inability to stem falling iPhone sales in key markets such as China,
Jefferies analysts downgraded Apple (NASDAQ:AAPL) stock from 'Hold' to 'Underperform' and reduced the price target to $200.75 from the previous $211.84. The firm's assessment of the $3.46 trillion tech giant comes as InvestingPro data shows the stock trading at $229.