Jefferies Downgrades Apple Over Abandoned Glass iPhone Plans

A recent downgrade by Jefferies to Apple stock suggests the tech giant may be nixing plans for a 20th anniversary iPhone. According to Jefferies analyst Edison Lee, the company's supply chain checks indicate that due to low yield, Apple will not move forward with an all-glass iPhone.

This special-edition gadget was expected to help boost the average selling price (ASP) and margins on iPhones amid soaring memory costs. The plan was to extend the all-glass features to future iPhone Pro and Pro Max models, improving their ASPs and margins for years to come.

Judging from estimates, the 20th anniversary iPhone would have fetched a blended retail ASP of $2,060 upon its launch in September 2027. Lee also believed that introducing new form factors in the iPhone to drive higher ASP is more difficult than expected.