Jefferies Lowers Apple Price Target to $276.47
Jefferies analyst Edison Lee lowered the price target on Apple (NASDAQ: AAPL) to $276.47 (from $283.36) while maintaining a Hold rating.
“AAPL has corrected 13% from its peak on Dec 2, driven by signs of slowdown in service rev.
Sensor Tower data shows AppStore rev grew only ~7% in Dec Q, slowest in the last 7 Qs. We also see risk of slowdown in its GOOG-related ad rev to HSD.
We keep our hardware forecasts but trim service rev growth, still expecting a slight beat (3%) in upcoming results (Jan 29). But our FY26E/27E is only in line.
At 2.4x PEG we believe the stock will likely be range bound.”
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