Oppenheimer Downgrades Apple (AAPL) to Perform

Oppenheimer analyst Martin Yang downgraded Apple (NASDAQ: AAPL) from Outperform to Perform.

The analyst comments "We downgrade APPL to Perform from Outperform. We lower our FY26 EPS estimate to by 4% to $7.95, below consensus of $8.23E. Our revision is based on reduced estimates for iPhone sales in the next 12-18 months. We see a twofold challenge ahead for iPhone growth: 1) stronger competition in greater China and 2) lack of compelling Apple Intelligence and generative AI apps to accelerate near-term device replacement. With slower-than-expected iPhone sales since last September and elevated valuation, we believe it will be challenging for AAPL to outperform. Downgrade to Perform."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $238.26 yesterday.

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