Jefferies Downgrades Apple to Underperform, Cuts Target to $264 After All-Glass iPhone Cancellation
Updated
Updated · TradingView · Aug 24
Jefferies Downgrades Apple to Underperform, Cuts Target to $264 After All-Glass iPhone Cancellation
2 articles · Updated · TradingView · Aug 24
Summary
Jefferies cut Apple to Underperform and lowered its price target to about $264 after supply-chain checks showed Apple scrapped an all-glass iPhone planned for Sept. 27.
Low production yields drove the cancellation, adding to concerns that Apple’s product roadmap is running into execution limits even after a strong June quarter.
Apple reported June-quarter revenue of $109.4 billion, up 16% year over year, but that strength is colliding with rising memory costs, constrained sourcing from China’s CXMT and U.S. export pressure.
The company is still preparing higher-priced iPhone launches, foldable-device plans and separate AI approaches for China and overseas markets, leaving investors to weigh growth ambitions against mounting supply, cost and regulatory headwinds.