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Loop Capital Downgrades Apple (AAPL) to Hold

January 21, 2025 6:40 AM EST
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Price: $232.47 --0%

Rating Summary:
    43 Buy, 26 Hold, 8 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 2 | Down: 21 | New: 11
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(Updated - January 21, 2025 6:56 AM EST)

Loop Capital analyst Ananda Baruah downgraded Apple (NASDAQ: AAPL) from Buy to Hold with a price target of $230.00 (from $275.00).

The analyst comments "We’re downgrading to Hold on the heels of work from Loop Capital Supply, Chain Analyst John Donovan (AAPL: iPhone Updates Show Muted 1H 25, Growing iPhone 17 Expectations) that suggest a material iPhone demand reduction beginning in the Mar Q but materially amplifying in the Jun Q and Sep Q (Figure 1). As such, while the foundation of our 7/15/24 structural Buy call could still materialize, it now remains unclear on timing, and it certainly won’t be for the next nine months given we’re on the front end of 2.5 Q’s of materially softening iPhone demand. Our $230 PT is 31x our new CY2025 EPS of $7.31."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $229.98 yesterday.


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