Loop Capital downgraded its projections for Apple stock and cut its price target to $330 over iPhone shipments it doesn't expect the company to recover. Apple's staggered release schedule complicates that forecast.Apple Stocks
Analyst Ananda Baruah lowered Apple's rating from Buy to Hold and cut its price target from $370 to $330. Loop initially attributed lower production plans to memory and processor shortages.
Loop initially expected Apple to recover many of the lost shipments in 2027, but supply chain checks that the firm performed changed that outlook. The firm now believes Apple won't replace the 13 million iPhone shipments removed from its second-half 2026 plans.
It estimates that Apple reduced planned iPhone shipments for the September and December quarters by roughly 10%, but how it comes to that number isn't clear. It now expects 79 million shipments in the December quarter, compared with Wall Street's overall estimate of 85 million.
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Source: AppleInsider · Summarized by HeadlinesBriefing