News about Loop Capital

Loop Capital downgraded Apple to Hold from Buy and lowered its price target to $330 from $370, citing new supply chain data showing Apple has no plans to recover the 13 million iPhone shipments cut in the second half of 2026. Analyst Ananda Baruah said the view that the reductions were tied to supply rather than demand 'no longer appears to be the case.' Loop cut its normalized EPS estimate to $11 from $12 and now models 79 million iPhone units for the December quarter, below the Street's 85 million. It also flagged gross margin risk from rising memory costs and lowered its calendar 2027 iPhone revenue forecast to $285 billion from $315 billion.