Jefferies upgrades Apple

In a notable shift, Jefferies has upgraded Apple (AAPL) from an Underperform rating to a Hold, signaling a more neutral outlook on the company’s stock. The adjustment comes with a revised price target of $167.88, down from the previous $202.33, reflecting a tempered expectation for near-term growth. Despite the lower target, Jefferies remains optimistic about Apple’s resilience amid potential economic headwinds, particularly regarding U.S. tariffs.
The firm’s base case hinges