Jefferies Apple · AAPL

Jefferies Reiterates Underperform on Apple, $263.66 Price Target

Analyst: Edison Lee 1 min read Reproduced verbatim
Rating
Underperform
Unchanged
Target
$264
from $250 (+5%)
Downside
−22%
AAPL at $338 today
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What the analyst said

Jefferies analyst Edison Lee reiterated an Underperform rating and $263.66 price target on Apple (NASDAQ: AAPL).

“AAPL just launched iPhone 18 P/PM and Duo (foldable). Duo’s pricing is exactly the same as JEFe, but it offers a 256GB version at US$1,999 to improve affordability.

For 18P/PM, the prices of 256GB/512GB versions are 6%-8% < JEFe (=7-9% hikes). For the 1TB/2TB versions, the hikes are similar to JEFe.

We believe AAPL wants to boost vol at the expense of margin. iPhone 17/Air pricing is unchanged, which could draw strong demand but create more margin pressure.”

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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AAPL trades at $338. The 16 analysts who set a target in the last 3 months range from $250 to $400, with a median of $358. This $264 target is 26% below the median.

Since the note AAPL has moved +7% (from $316). 12-month window: day 54 of 365, closes on September 9, 2027.

Track record

This callOpen: AAPL has not reached $264 yet. This 12-month target is scored on September 9, 2027.

Firm track recordJefferies: 67% of its 18 targets at least a year old were reached within 12 months (#21 of 26 firms). Accuracy ranking →

Jefferies on Apple

Jefferies price targets on Apple

5 calls from January 26, 2026 to September 9, 2026. The target went from $276.47 to $263.66 (−5%). The rating moved from Hold to Sell.

Jefferies targetAAPL share price
  1. September 9, 2026 This noteTarget raised from $250 (+5%)Sell$263.66
  2. August 14, 2026Target cut from $264 (−5%)Sell$250
  3. August 10, 2026Downgraded to Sell, target cut from $299.88 (−12%)Sell$264
  4. May 4, 2026Target raised from $276.47 (+8%)Hold$299.88
  5. January 26, 2026Earliest call shownHold$276.47
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Other analysts on Apple

BernsteinBuy Kept rating and price target Oct 29 $370maintained EvercoreBuy Kept rating and price target Oct 27 $380maintained UBSHold Kept rating and price target Oct 20 $296maintained Loop CapitalHold Downgraded, cut price target −11% Oct 20 $330from $370 KeyBancSell Kept rating and price target Oct 19 $250maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.