--- title: "Another investment bank has downgraded Apple's rating! The 20th anniversary all-glass iPhone is rumored to be canceled, and Jefferies warns that relying on foldable screens for price increases is \"more difficult than expected.\"" type: "News" locale: "en" url: "https://longbridge.com/en/news/295414488.md" description: "Jefferies has downgraded Apple's rating to \"Underperform,\" with a target price reduced to $263.66. Analysts are concerned about the difficulty in increasing the average selling price of the iPhone, noting that the 20th anniversary all-glass model has been canceled due to yield issues, and the foldable iPhone may become a niche product due to its high price. Currently, six institutions have given Apple a \"Sell\" rating, the highest since 2012, indicating a surge in bearish sentiment in the market" datetime: "2026-08-10T13:31:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295414488.md) - [en](https://longbridge.com/en/news/295414488.md) - [zh-HK](https://longbridge.com/zh-HK/news/295414488.md) --- # Another investment bank has downgraded Apple's rating! The 20th anniversary all-glass iPhone is rumored to be canceled, and Jefferies warns that relying on foldable screens for price increases is "more difficult than expected." The Zhitong Finance APP noted that Apple (AAPL.US) has had its stock rating downgraded to "underperform" by investment bank Jefferies, marking the latest example of growing bearish sentiment towards the company. Jefferies analyst Edison Lee expressed concerns about the outlook for Apple's iPhone, particularly regarding the company's ability to drive up the average selling price (ASP) over time. In his report, he wrote that supply chain checks indicate that the company "has canceled the 20th anniversary all-glass iPhone model due to low production yields." "This suggests that introducing a new form factor in the iPhone to drive up the average selling price is more difficult than expected." Previously, multiple sources reported that Apple plans to launch a groundbreaking design for a new phone next year, coinciding with the 20th anniversary of the iPhone. The next-generation iPhone Pro series is expected to feature an almost bezel-less four-curved display, extending the screen around the device for a more integrated visual effect. ## Foldable phones may become niche products Edison Lee wrote that Apple is expected to launch its foldable iPhone for the first time next month, "which will now become the only key driver for higher average selling prices and gross margins in the coming years." However, the soaring prices of key components like memory chips will drive up the pricing of this product, and "we still believe that such an expensive phone will be a niche product." Jefferies previously rated Apple stock as "hold," and while downgrading the rating, it lowered its target price from $285.56 to $263.66. Apple's stock closed at $313.33 last Friday. According to data, six institutions have currently given Apple a rating equivalent to "sell." This number ties the highest record since 2012. Last month, KeyBanc Capital Markets downgraded the stock to "underweight" due to concerns about demand and valuation. KeyBanc pointed out that U.S. carriers are generally reducing phone subsidies, which will directly suppress the upgrade pace of the iPhone. The firm believes that the market's general expectation of an 8% growth in iPhone sales for fiscal year 2027 is "too aggressive." Additionally, as Apple's most important growth engine and profit source in recent years, the services business is facing challenges of slowing growth. KeyBanc expects that the slowdown in iPhone sales will drag the annual growth rate of the services business down to 7%, significantly lower than the market's general expectation of 12%. ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260810/1786367908169276.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Cautious sentiment towards Apple is on the rise ## Analyst consensus rating falls to the lowest since 2019 Overall, the composite recommendation rating, as an alternative indicator of the buy, hold, and sell rating ratio, has dropped to 3.88 points (out of 5), marking the lowest level since 2019. The proportion of analysts recommending buying the stock is below 60%, a significant drop compared to similar mega-cap stocks like Microsoft, Amazon, and Nvidia, which all received over 90% institutional support Apple's stock price fell by 1.3% in pre-market trading on Monday. As of Friday's closing price, the stock has dropped about 8% from its recent high. The recent decline in stock price occurred after Apple announced its quarterly earnings report, during which the company provided a disappointing sales forecast due to component shortages ### Related Stocks - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [AAPX.US](https://longbridge.com/en/quote/AAPX.US.md) - [AAPD.US](https://longbridge.com/en/quote/AAPD.US.md) - [AAPB.US](https://longbridge.com/en/quote/AAPB.US.md) - [AAPU.US](https://longbridge.com/en/quote/AAPU.US.md) - [AAPE.US](https://longbridge.com/en/quote/AAPE.US.md) - [AAPW.US](https://longbridge.com/en/quote/AAPW.US.md) - [APLY.US](https://longbridge.com/en/quote/APLY.US.md) - [AAPY.US](https://longbridge.com/en/quote/AAPY.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [JEF.US](https://longbridge.com/en/quote/JEF.US.md) - [KEY.US](https://longbridge.com/en/quote/KEY.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [KEY-K.US](https://longbridge.com/en/quote/KEY-K.US.md) - [KEY-L.US](https://longbridge.com/en/quote/KEY-L.US.md) - [KEY-J.US](https://longbridge.com/en/quote/KEY-J.US.md) - [KEY-I.US](https://longbridge.com/en/quote/KEY-I.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [Paul R. Ried Financial Group LLC Sells 1,909 Shares of Apple Inc. $AAPL](https://longbridge.com/en/news/295077793.md) - [Telegram says app restored on Apple's App Store](https://longbridge.com/en/news/294757751.md) - [Apple Stock Slides After Analyst Downgrade](https://longbridge.com/en/news/295433983.md) - [Apple Dropped Plan to Ship Leased iPhones Already Set Up for Users](https://longbridge.com/en/news/295385028.md) - [Apple Cutting Back 2026 Hardware Shipments Due to Memory Shortage](https://longbridge.com/en/news/295438194.md)