Apple Shares Drop 1.76% After Jefferies Flags $2,060 All-Glass iPhone Cancellation
Updated
Updated · Fortune · Aug 10
Apple Shares Drop 1.76% After Jefferies Flags $2,060 All-Glass iPhone Cancellation
3 articles · Updated · Fortune · Aug 10
Summary
Apple shares fell 1.53% in regular trading and another 0.23% overnight after Jefferies said supply-chain checks showed a planned all-glass iPhone for September 2027 had been canceled.
Jefferies cut earnings estimates, calling the move a setback to Apple’s push for higher-priced iPhones as memory costs rise; the scrapped model was expected to sell for about $2,060.
Bloomberg’s Mark Gurman reported Apple still aims to ship a 2027 glass-centric redesign, with glass front and back curving into the sides around a metal band.
That report partly backed Jefferies by saying a more ambitious version using even more glass was abandoned early after durability and mass-production problems.
The dispute matters because, with Tim Cook handing leadership to John Ternus, investors are watching whether 2027 redesigns can lift iPhone average selling prices and margins.