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Apple shares drop 2% after Jefferies downgrades on iPhone pricing and production issues

Market News
10 Aug 2026
Proactive Investors
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Bearish
Apple shares drop 2% after Jefferies downgrades on iPhone pricing and production issues

Jefferies downgraded Apple stock to Underperform, citing challenges in launching higher-priced iPhones and lifting average selling prices. The firm revealed Apple canceled a planned all-glass iPhone model for 2027 due to poor production yields, which was expected to have a retail price around $2,060. This cancellation hinders Apple's margin expansion efforts, leaving the foldable iPhone 18 Fold as the main premium product, priced between $2,199 and $3,099. Rising memory costs and changes in trade-in values also pose risks to Apple's product economics and demand dynamics.

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