Jefferies cuts Apple to Underperform, target to $263.66
Jefferies downgraded Apple (AAPL) to Underperform from Hold and cut its price target to $263.66 from $285.56, citing concerns around a reportedly canceled premium iPhone design.
Apple NASDAQ:AAPL is facing a fresh Wall Street warning after Jefferies downgraded the stock to Underperform from Hold and cut its price target to $263.66 from $285.56, implying roughly 18% downside.
Analyst Edison Lee's concern centers on a reportedly canceled premium iPhone design that could weak…