Bearish
Apple's stock drops 1.5% after Jefferies downgrades due to canceled all-glass iPhone.
Apple's stock declined by 1.5% following Jefferies' downgrade, citing the cancellation of the anticipated all-glass iPhone due to manufacturing challenges and rising production costs. This development is expected to impact future earnings and average selling prices.
Key points
- Jefferies downgrades Apple to 'Underperform' after all-glass iPhone cancellation.
- Market anticipates upcoming inflation data, potentially influencing Federal Reserve decisions.
Sources
AI-generated from public news sources. Not financial advice.
