Apple Analyst Slashes Price Forecast On Weak iPhone Demand, AI Revenue Despite Less Tariff Risk

Jefferies analyst Edison Lee upgraded Apple Inc AAPL from Underperform to Hold and lowered the price target from $202.33 to$167.88 on Wednesday.Lee’s base case remains that Apple would be exempted from U.S. tariffs, given its commitment to invest $500 billion in the U.S. over the next four years and his belief that it would make additional manufacturing investment commitments in the US (to make iPhones, for example). However, a rising global recession risk could further impact already-weak iPhone demand.Th ...