Analyst cites slowing upgrades and weaker sales outlook for Apple’s flagship product line in downgrade to underweight.
KeyBanc Capital Markets analyst Brandon Nispel downgraded Apple (AAPL) to underweight from sector weight, citing expectations of decelerating iPhone sales and device upgrades. The new rating equates to a sell recommendation, though the price target remains at 250 USD.
Prior to the downgrade, AAPL had been rated neutral. The move contrasts with recent market momentum, as Apple stock neared record highs earlier in the week. No immediate market reaction was detailed in the report.
The downgrade reflects broader concerns over consumer demand for premium smartphones amid economic uncertainty and longer replacement cycles.