Apple Stock Downgraded by Jefferies and Loop Capital

Apple Inc. (NASDAQ:AAPL) has faced multiple downgrades, notably from Jefferies and Loop Capital, due to concerns over declining iPhone sales and weak revenue growth projections. Jefferies downgraded Apple to 'Underperform' and reduced its price target to $200.75, citing slow AI adoption and decreased demand, especially in China, where iPhone shipments have fallen. Loop Capital also downgraded Apple, adjusting their price target to $230, highlighting significant reductions in iPhone demand expected to persist through 2025. Additional pressure comes from Apple's lack of eligibility for Chinese government subsidies, potentially impacting market share. Despite these downgrades, Apple still retains a majority of 'Buy' recommendations from analysts, with expectations closely tied to its upcoming earnings report on January 30.