Loop Capital Cuts Apple Rating Over iPhone Sales Outlook

Loop Capital has lowered its rating on Apple from "Buy" to "Hold," saying the company is unlikely to make up an estimated 13 million iPhone shipments cut from its plans for the second half of 2026, according to Investing.com. The firm reduced its Apple stock price target from $370 to $330. Loop previously believed shortages of memory and processors had delayed shipments that Apple would recover in 2027. Its latest supply chain checks have led it to drop that assumption. The firm now forecasts 79 million iPhone shipments in the December quarter, below initial estimates of 85 million. It also expects a lower average selling price, reducing its forecast from $1,239 to $1,123. For 2027, Loop actually expects Apple to ship more iPhones than it previously forecast, with its estimate now at 260 million units. However, it expects those phones to sell for less on average, leading it to cut its iPhone revenue forecast from $315 billion to $285 billion. Rising memory costs could also squeeze Apple's profits. Apple's widely reported split launch schedule makes the financial outlook harder to assess. The iPhone 18 Pro models arrived in September and the iPhone Duo launches October 23, but the standard iPhone 18, iPhone 18e, and iPhone Air 2 are not expected until the spring of 2027. Counterpoint Research attributed much of Apple's third-quarter shipment decline to the missing standard model. Apple still secured a record third-quarter market share of 22%, despite the fact that global smartphone shipments fell 20% year over year. Popular StoriesApple Shares Fall After News of iPhone 18 Pro Order CutsApple shares fell more than 2.5% in early trading today in response to Nikkei Asia's report that the company is cutting iPhone 18 Pro component orders due to weaker-than-expected demand. October orders were reportedly reduced by at least 15%, with higher memory costs and $100 price increases weighing on...Apple Becomes Second Company to Close Above $5 TrillionWednesday October 14, 2026 3:37 pm PDT by Juli CloverApple today closed with a market capitalization above $5 trillion, making it the second company to do so after Nvidia. As noted by The Wall Street Journal, Apple's market cap has exceeded $5 trillion six times before today during intraday trading, but this is the first time the company stayed above the mark at closing. Apple closed at $342.96, for a market cap of $5.005 trillion. The new...RIP, MacBook UltraApple today sent out invites for an experience in Los Angeles on Wednesday, October 28, and the "Pro and tell" tagline on the invitation likely means that the rumored MacBook models with touch-enabled OLED displays will stick with MacBook Pro branding instead of the once-rumored "MacBook Ultra" name. The long-rumored "iPhone Ultra" ended up being named iPhone Duo, so speculation that Apple...