Phillip Securities downgraded Apple (AAPL) to Reduce from Neutral with an unchanged price target of $200 following this week’s product event. The firm cites valuation for the downgrade following the recent share price rally. Phillip maintains a cautious outlook on Apple, citing near-term headwinds from tariffs, elevated spending, and “no significant AI innovation” to help with weakness in products and the China market.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories!
- Oracle surges on cloud outlook, Novo to cut 9,000 jobs: Morning Buzz
- A Breath of Fresh iPhone Air: Apple Stock (NASDAQ:AAPL) Slides Despite Great iPhone Air Potential
- Apple (AAPL) and Amazon’s Stocks Slide as Spotify Delivers Long-Awaited Premium Audio
- ‘Dogecoin Started as a Joke, and Now Wall Street Finally Gets It,’ Says DogeOS CEO as ETF Nears