Jefferies downgrades Apple stock, cites all-glass iPhone cancellation rumor
Jefferies today became the latest firm to cut Apple’s stock price target in recent days, citing supply chain checks that suggest Apple has scrapped plans for a rumored all-glass iPhone expected to mark the device’s 20th anniversary next year. Here are the details.
Jefferies analyst Edison Lee has downgraded Apple's stock rating to "Underperform," citing the possible cancellation of the company's 20th anniversary all-glass iPhone redesign as the primary reason. The downgrade is based on the belief that the project has come to a halt due to low yield in the supply chain. Although the all-glass iPhone was first reported in development as early as 2025 and rumored to launch as early as 2027, Apple has never commented on the speculation.
Jefferies had previously considered the release of an all-glass iPhone plausible, but Lee now views the development as a major setback for the company's efforts to introduce higher-priced iPhones amidst rising memory costs. The speculated cancellation would have had a significant impact, as the device was expected to carry an estimated blended retail price of $2,060, higher than any previous model.
Lee also pointed to Apple's AI strategy and rising component costs for the iPhone 19 Pro as further reasons for the downgrade.
Written by urgent.news from 9to5Mac's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
