Apple ( (AAPL) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Apple has recently launched its latest iPhone 17, witnessing strong demand, especially after a price cut on the base model. However, top analyst Edison Lee from Jefferies has downgraded Apple’s stock to ‘Sell’ from ‘Hold’, citing that the current stock price already reflects the initial demand surge. Lee also expressed concerns about the high expectations for the upcoming iPhone 18 and Apple’s first foldable model, suggesting that these expectations might be overly optimistic.
Despite the strong start with the iPhone 17, Lee has adjusted his sales forecast for Apple’s fiscal year 2025 to a 7% increase, up from 5%. However, his outlook for the following years is less optimistic, with growth estimates dropping to just 1% and -1% for fiscal years 2026 and 2027, respectively. Lee attributes this to potential price hikes for future models and a cautious outlook on the foldable iPhone’s market performance. Overall, while Apple remains a strong player in the tech market, investors are advised to temper their expectations for long-term growth.