Jefferies Upgrades Apple (AAPL) to Hold, '4QFY25 In Line but Strong 1Q Guide: LT Outlook Still Muted'
Jefferies analyst Edison Lee upgraded Apple (NASDAQ: AAPL) from Underperform to Hold with a price target of $246.99 (from $203.07).
The analyst comments "AAPL's Sep Q rev grew ~8%, 6%/1% > JEFe/cons. iPhone rev growth weaker at 6%, but other products (Mac & iPad) beat. GM at 47.2% is ~0.5% beat including US$1.1bn tariff. It guides 10%-12% rev growth in Dec Q (6% > cons). JEFe is up only slightly, as a US$100 price hike assumed for iPhone 18 to cover higher component costs will limit vol growth, and product mix likely -ve for margin. But strong 1QFY26 and hope for 18 Fold would likely limit downside. U/G to HOLD."
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Shares of Apple closed at $271.40 yesterday.