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Jefferies Downgrades Apple; Stock Dips Amid Market Saturation

10/4/2025

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Summary

Story summary

Jefferies cuts Apple Inc. price target from $205.82 to $205.16 and downgrades to Underperform.
Edison Lee says foldable iPhone 18 expectations are unrealistic and priced in.
Apple stock fell 1.1% to $254.34 after the downgrade.
The smartphone market is saturated, with Samsung and Xiaomi competing.
Analysts expect revenue growth to slow and margins to compress without new features.

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Story summary

Jefferies cuts Apple Inc. price target from $205.82 to $205.16 and downgrades to Underperform.
Edison Lee says foldable iPhone 18 expectations are unrealistic and priced in.
Apple stock fell 1.1% to $254.34 after the downgrade.
The smartphone market is saturated, with Samsung and Xiaomi competing.
Analysts expect revenue growth to slow and margins to compress without new features.