Jefferies downgrades Apple to Underperform, cuts price target to $263.66
Jefferies downgraded Apple to Underperform from Hold and cut its price target to $263.66 from $285.56, citing supply-chain checks indicating plans for an all-glass iPhone were scrapped due to low manufacturing yields, a setback to Apple's push toward higher-priced iPhones.
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🚨 JEFFERIES DOWNGRADES APPLE TO UNDERPERFORM FROM HOLD, CUTS PRICE TARGET TO $263.66 FROM $285.56 $AAPL
@schaeffers
JUST IN: Jefferies downgraded Apple $AAPL to Underperform after supply-chain checks indicated plans for an all-glass iPhone have reportedly been scrapped due to low manufacturing yields. The firm says it's a setback to Apple's push toward higher-priced iPhones. https://t.co/6Fdl39WXHk