Stocks
Jefferies Downgrades Apple Over Scrapped All-Glass iPhone Plans
Jefferies, a research firm, has downgraded Apple's stock due to concerns that the company is scrapping plans for an all-glass iPhone. The device was expected to boost the average selling price of iPhones and improve margins amid soaring memory costs.
According to Jefferies analyst Edison Lee, supply-chain checks suggest that Apple will not proceed with the all-glass design due to low yield. This move is seen as a major setback for efforts to increase iPhone prices.
The 20th-anniversary iPhone was expected to debut in September 2027 and fetch a blended retail average selling price of $2,060. Lee also believed that Apple would extend the all-glass features to future iPhone Pro and Pro Max models.