Investing.com reports that investment firm Loop Capital has lowered its rating on Apple from “Buy” to “Hold,” as Apple “has no plans to recover the 13 million iPhone shipments cut in the second half of 2026.” The firm reduced its Apple stock price target from $370 to $330.
“We continue to like AAPL’s longer-term share gain and Services story… but believe the stock also requires a fundamental catalyst reset after its recent stock appreciation,” analyst Ananda Baruah said.
While Loop had previously believed that despite the shortages of memory and processors that had delayed shipments, Apple would recover in 2027. Now, its latest supply chain checks have led it to revise that assumption. Loop now forecasts 79 million iPhone shipments in the December quarter, six million below its initial estimates of 85 million. It also expects a lower average selling price, reducing its forecast from $1,239 to $1,123.
For calendar 2027, Loop raised its unit forecast to 260 million but cut its average selling price estimate to $1,096 from $1,235. It also lowered its iPhone revenue forecast to $285 billion from $315 billion and trimmed its EPS estimate to $9.76 from $10.11.
Apple is following a split launch schedul this time around, making it a bit tougher to asses the company’s financial outlook. Apple lauched its iPhone 18 Pro and iPhone 18 Pro Max models in September, and its foldable iPhone Duo launches this Friday, October 23. The company is delaying the launch of its standard iPhone 18, iPhone 18e, and iPhone Air 2 models until the spring of 2027.
