Jefferies Dims Apple Outlook, Citing iPhone Uncertainty

Apple's stock price fell by approximately 2.2% on Monday in regular trading after Jefferies downgraded its rating from 'Hold' to bearish and lowered its price target to $263.66 from $285.56.

The analyst, Edison Lee, cited supply-chain checks that suggest the rumored all-glass anniversary iPhone may not be as expected, potentially dampening premium product momentum and AI progress.

Jefferies also noted rising memory costs and Apple's slower AI rollout as potential headaches for the company.

Apple's valuation is currently above its estimated fair-value line by around 8.74%, with investors paying $306.61 per share compared to the GF Value of $281.97 on August 10.