Jefferies Downgrades Apple as All-Glass iPhone Reportedly Cancelled

Jefferies, a financial research firm, became more negative about Apple’s stock.

It says Apple may have canceled a special iPhone made mostly of glass.

The phone was expected in September 2027 and would have been very expensive.

Without it, Apple may have less ability to raise iPhone prices.

Jefferies also says memory chips are becoming more expensive, which could reduce Apple’s profits.

A foldable iPhone might help Apple sell more expensive phones instead.

However, the firm expects the foldable model to sell in relatively small numbers.

Jefferies lowered its price target for Apple shares.

The report says Apple also lacks a strong artificial-intelligence reason for customers to upgrade right now.