Loop Capital Cuts Apple Rating Over iPhone Sales Outlook

Loop Capital has lowered its rating on Apple from "Buy" to "Hold," saying the company is unlikely to make up an estimated 13 million iPhone shipments cut from its plans for the second half of 2026, according to Investing.com. The firm reduced its Apple stock price target from $370 to $330. Loop previously believed shortages of memory and processors had delayed shipments that Apple would recover in 2027. Its latest supply chain checks have led it to drop that assumption. The firm now forecasts 79 million iPhone shipments in the December quarter, below initial estimates of 85 million. It also expects a lower average selling price, reducing its forecast from $1,239 to $1,123. For 2027, Loop actually expects Apple to ship more iPhones than it previously forecast, with its estimate now at 260 million units. However, it expects those phones to sell for less on average, leading it to cut its iPhone revenue forecast from $315 billion to $285 billion. Rising memory costs could also squeeze Apple's profits. Apple's widely reported split launch schedule makes the financial outlook harder to assess. The iPhone 18 Pro models arrived in September and the iPhone Duo launches October 23, but the standard iPhone 18, iPhone 18e, and iPhone Air 2 are not expected until the spring of 2027. Counterpoint Research attributed much of Apple's third-quarter shipment decline to the missing standard model. Apple still secured a record third-quarter market share of 22%, despite the fact that global smartphone shipments fell 20% year over year.Tag: AAPLThis article, "Loop Capital Cuts Apple Rating Over iPhone Sales Outlook" first appeared on MacRumors.comDiscuss this article in our forums