DA Davidson Cuts Apple Price Target Amid Foldable Phone Concerns

DA Davidson has reiterated its Neutral rating on Apple Inc. (AAPL), but this time with a lower price target of $270.00, significantly below the current stock price of $324.32.

The firm believes that Apple's position in AI has been improving and that the key to a successful start under new CEO John Ternus will be the release of the foldable iPhone Ultra and the impact of price increases across products and services.

Without these factors, DA Davidson expects revenue declines next year due to the comparison with last year's massive iPhone upgrade cycle.