Apple stock hit with 2 downgrades on weak iPhone sales, AI outlook

Category: Finance

Jefferies analyst Edison Lee downgraded Apple's stock rating to Underperform, lowering the price target to $200.75 due to expected weak iPhone sales and consumer disinterest in AI. Loop Capital also downgraded Apple from Buy to Hold with a target of $230. iPhone sales in China fell 15-20% year over year, contributing to a decline in market share. Jefferies forecasts a slight decline in iPhone revenue for the first quarter, while total sales growth is expected to be lower than previously estimated. Apple faces ongoing challenges in China and overall market competition.

Keywords: Apple, stock downgrade, iPhone sales

Source: Yahoo Finance

Update At: 1/22/2025

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