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Apple Stock Downgraded Amid Claims of Scrapped iPhone Redesign

Guavy AI Editorial Team
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AAPL
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A prominent Wall Street analyst has downgraded Apple stock to Underperform, citing concerns that a radical iPhone redesign planned for 2027 has been scrapped.

Jeffries' Edison Lee cut his rating on Apple from Hold and slashed the price target to $263.66 from $285.56.

Lee claims that Apple had planned an all-glass iPhone, internally codenamed 'Glasswing', but development has reportedly stopped.

However, other reports suggest that such a device is still in the works and will feature Samsung's COE technology for a brighter and thinner display.

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