Jefferies downgrades Apple's rating, stating that the market is overly optimistic about Apple's AI phone, causing Apple's stock price to drop more than 1.2% at one point
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Jefferies analyst believes that the market's expectations for Apple's AI phone are too high, downgrading Apple's rating from buy to hold, causing Apple's stock price to fall more than 1.2% in early trading on Monday. Previously, the market believed that AI features would drive consumer upgrades to phones and accelerate Apple's revenue growth. Fueled by this optimism, Apple's stock price has risen by about 36% from its low point in April
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