Market Overview

UPDATE: Jefferies Downgrades Apple to Hold on Margin Pressure

Related AAPL
Weekly Highlights: iPhone 6 Released, Larry Ellison Stepped Down, Microsoft Bought Mojang And More
All Eye On Alibaba IPO - Economic Highlights
Tech Rewind: All Eyes on Alibaba's Stellar Debut (Fox Business)

Jefferies downgraded Apple (NASDAQ: AAPL) with a Neutral and lowered the price target from $800.00 to $500.00.

Jefferies commented, "Three factors are working against Apple: 1) Smartphone and tablet growth is becoming more concentrated in the low end of the market. 2) Increased competition is leading to shorter product cycles. Apple's margins usually contract during new product launch as yield issues are worked through. A quicker cadence leaves more compressed quarters and less time to harvest profits. 3) Moving away from Samsung, with its huge scale, high quality and excellent execution, is proving difficult and expensive. We now forecast GMs staying below 39% and trending lower."

Apple closed at $514.01 on Wednesday.

Latest Ratings for AAPL

DateFirmActionFromTo
Sep 2014Pacific Crest SecuritiesDowngradesOutperformSector Perform
Sep 2014Goldman SachsMaintainsBuy
Sep 2014Mizuho SecuritiesMaintainsBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (AAPL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters