Jefferies: Market expects iPhone sales to be "too high", downgrades Apple's rating to "hold"
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Jefferies downgraded Apple from "buy" to "hold" with a target price of $205, citing that the market's expectations for iPhone sales volume are "too high". Analyst Edison Lee pointed out that the expected growth of iPhone sales by 5% to 10% is "unlikely to materialize", with the projected growth rate for the iPhone 16 cycle being only 2.5%. Nevertheless, Apple's long-term capabilities in the field of artificial intelligence are still promising, especially in collaboration with OpenAI
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