Jefferies Turns Bearish on Apple's iPhone Outlook

Core Viewpoint - Jefferies has downgraded Apple's stock to "underperform," suggesting that investors are overly optimistic about the company's smartphone prospects given current valuations [1] Summary by Relevant Categories Company Analysis - The downgrade was initiated by analyst Edison Lee, who argues that the market's expectations for Apple's smartphone performance are too high [1] Market Sentiment - The decision reflects a broader concern that investor sentiment may not align with the actual performance outlook for Apple's iPhone business [1]