Loop Capital downgraded Apple (AAPL) to Hold from Buy and cut its price target to $330 from $370, citing new iPhone supply chain data. Apple had earlier cut its September and December quarter iPhone shipments by 10%, and Loop had expected many of those phones to be made up through 2027, but now sees no plans to recover the 13 million iPhones cut in the second half of 2026. The firm lowered its normalized EPS estimate to $11 from $12 and its December quarter iPhone forecast to 79 million units from 85 million, with average selling price at $1,123. Loop also flagged gross margin risk from rising memory costs, and said the stock needs fresh fundamental catalysts after its recent rise.
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Related tickers and likely impact
AAPL
▼ Likely negativeApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.0T |
| Close on 10/20/2026 | 339.73 |
| Change that session | -0.94% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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