Apple stock dips after rating cut at Jefferies on 'excessive expectations' on iPhone

Core Viewpoint - Jefferies downgraded Apple’s stock from Hold to Underperform due to excessive expectations regarding iPhones and foldable phones [4] Summary by Category - Stock Performance - Apple shares fell approximately 1% in premarket trading following the downgrade [4] - Analyst Actions - Jefferies reduced the price target for Apple’s stock to $205.16 from $205.82 [4]