- KeyBanc analyst Brandon Nispel rates Apple Underweight with $250 price target.
KeyBanc analyst Brandon Nispel downgraded Apple to Underweight with a $250 price target, citing weak iPhone 18 upgrade demand. He said consumers are balking at higher prices and carrier promotions are shrinking. Apple's stock trades at 36x forward earnings, well above its historical average. A separate bull case from Melius sees Apple's AI-light strategy as a strength.
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