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Loop Capital downgrades Apple to Hold, cuts iPhone revenue forecast

Loop Capital downgraded Apple from Buy to Hold and cut its price target from $370 to $330. The firm doubts Apple can recover about 13 million iPhone shipments cut from plans for the second half of 2026. It also lowered its 2027 iPhone revenue forecast from $315 billion to $285 billion, citing a lower expected average selling price.

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Loop Capital downgrades Apple to Hold, cuts iPhone revenue forecast
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What to know

  • 01

    Loop Capital forecasts about 79 million iPhone shipments for the December quarter, below its initial estimate of 85 million.

  • 02

    The firm expects 260 million iPhone shipments in 2027, but at a lower average selling price.

Why it matters

The report also notes that staggered iPhone releases make Apple’s financial outlook harder to predict.

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