Apple Adds a Bear as Jefferies Downgrades, Sees 20% Downside

Jefferies, a prominent investment firm, has downgraded Apple Inc. (AAPL) stock, citing concerns over unrealistic expectations for iPhone upgrade rates. The analysts at Jefferies believe that the current market expectations for iPhone sales growth are too optimistic, and they expect the stock to decline by as much as 20% from its current levels. The report highlights that the pace of iPhone upgrades has slowed down, and the company may face challenges in maintaining its growth momentum. This downgrade comes as a departure from the generally bullish sentiment surrounding Apple, which has been one of the market's top-performing stocks in recent years. Jefferies' bearish stance on Apple reflects the increasing competition in the smartphone market and the potential for saturation in the high-end device segment. The report suggests that investors should exercise caution and closely monitor the company's performance in the coming quarters.