KeyBanc Apple · AAPL

KeyBanc Affirms Underweight on Apple, $250 Price Target

Analyst: Brandon Nispel 1 min read Reproduced verbatim
Rating
Underweight
Unchanged
Target
$250
Unchanged
Downside
−24%
AAPL at $329 today
KeyBanc and Apple logos

What the analyst said

KeyBanc analyst Brandon Nispel reiterated an Underweight rating and $250 price target on Apple (NASDAQ: AAPL).

“We remain UW AAPL, reiterate our $250 PT, and are moving our ’27/’28 revenue and EPS -1.2%/+1.0% and -1.8%/-0.5%, respectively.

F4Q results showed ~11.7% growth and were better for iPhone and Mac, and weaker for iPad, Wearables, and Services.

Looking forward, AAPL’s 7-10% revenue guide continues to contemplate a slowdown in Hardware growth, despite price increases, a clear sign unit demand is declining.

This slowing user growth, along with structural changes, is driving a slowdown in Services to 8-9%. We think AAPL is at the point of extreme overvaluation, and see risk to shares.”

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

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 $329. The 19 analysts who set a target in the last 3 months range from $250 to $400, with a median of $350. This $250 target is 29% below the median, the lowest on the Street.

12-month window: day 0 of 365, closes on November 3, 2027.

Track record

This callOpen: AAPL has not reached $250 yet. This 12-month target is scored on October 15, 2027. Same target as this firm’s October 15, 2026 note, so it is scored there.

Firm track recordKeyBanc: 79% of its 24 targets at least a year old were reached within 12 months (#12 of 26 firms). Accuracy ranking →

KeyBanc on Apple

KeyBanc price targets on Apple

7 calls from June 9, 2026 to November 3, 2026. The target stayed at $250. The rating moved from Hold to Sell.

KeyBanc targetAAPL share price
  1. November 3, 2026 This noteKept the $250 targetSell$250
  2. October 19, 2026Kept the $250 targetSell$250
  3. October 15, 2026Kept the $250 targetSell$250
  4. July 31, 2026Kept the $250 targetSell$250
  5. July 28, 2026Kept the $250 targetSell$250
  6. July 14, 2026Downgraded to Sell, set a $250 targetSell$250
  7. June 9, 2026Earliest call shownHoldNo target
Share

Other analysts on Apple

ArgusBuy Raised price target +7%, kept rating Nov 3 $400from $375 Yorkville IvesBuy Kept rating and price target Nov 3 $400maintained JP MorganBuy Cut price target −1%, kept rating Nov 3 $355from $360 BarclaysSell Raised price target +7%, kept rating Nov 3 $261from $245 Aletheia CapitalSell Kept rating and price target Nov 3 $250maintained
Share on
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.