TLDR
- Apple stock declined 1.08% in premarket trading as analysts questioned iPhone demand.
- Loop Capital downgraded Apple to Hold and reduced its price target from $370 to $330.
- KeyBanc raised concerns about slower iPhone upgrades as consumers face higher device prices.
- Britain’s competition regulator proposed lower fees and easier access for rival contactless payment services.
- Apple committed up to $100 million to domestic titanium purchases as part of its US manufacturing expansion.
Apple (AAPL) stock fell 1.08% in Tuesday premarket trading after analysts raised concerns about iPhone demand and production plans. The decline followed Monday’s 0.15% loss, with shares retreating after Apple’s valuation passed $5 trillion last week.
Technology stocks faced pressure as investors questioned borrowing costs and spending on artificial intelligence. AMD, Intel and Micron were among the chipmakers that weakened ahead of the opening bell.
Apple Stock Faces Lower Analyst Targets
Loop Capital downgraded Apple from Buy to Hold and lowered its price target to $330 from $370. Analyst Ananda Baruah now expects fewer iPhone shipments than projected, citing findings from the supply chain.
The firm no longer expects Apple to recover 13 million units removed from its 2026 shipment plans. Higher memory prices could squeeze profit margins. Elsewhere, Intel’s rebound on Monday followed heavy selling across the chip sector.
iPhone Upgrade Demand Remains Uncertain
KeyBanc analyst Brandon Nispel raised concerns about consumers delaying phone upgrades. His survey suggested that higher prices and capable older devices could slow replacement rates, even as the iPhone 18 attracted early interest.
KeyBanc maintained an Underweight rating and a $250 price target. Buyers shifting toward premium models could support revenue per device, but lower shipment volumes would limit that benefit. Analysts remain divided about Apple’s next growth phase.
Apple’s foldable iPhone Duo has attracted attention, although interest and confirmed orders are different measures. The company recently introduced a $299 HomeView smart display, with plans to offer paid artificial intelligence services later.
Apple has not announced pricing for expanded services. Its presentation is scheduled for October 28, while fourth-quarter earnings are expected November 2.
UK Payment Rules and American Manufacturing
The UK Competition and Markets Authority proposed easier access to contactless payment technology on iPhones. Its consultation seeks lower charges and fewer technical barriers for rival digital wallets and other services.
The watchdog plans to consider responses through November 17 before deciding on final measures. Apple argues its existing system supports secure third-party access and has raised concerns about privacy and security.
Separately, Apple agreed to buy up to $100 million of titanium from Pennsylvania supplier Perryman over three years. The commitment comes amid wider U.S. manufacturing investments, including chip factories planned in New York.
The post Apple (AAPL) Stock Drops as Loop Capital Warns of iPhone Demand Risks appeared first on Blockonomi.
