Jefferies Downgrades Apple Stock Amid Supply-Chain Issues and Rising Memory Costs

Jefferies downgraded Apple's (AAPL) stock to Underperform and lowered its target price to $263.66 due to supply-chain yield issues, canceled all-glass iPhone plans, rising memory costs, and slower AI rollout.

The company's shares fell around 2% to $306.56 after the downgrade.

Apple is reportedly planning to raise prices for new iPhone 18 models, possibly increasing older iPhone prices as well, in an effort to offset rising component and production expenses ahead of its launch.

The move aims to absorb some costs internally and maintain profit margins.