Loop Capital downgraded Apple from buy to hold, cutting its price target to $330 from $370, implying about 4% downside from Monday’s close. The stock has surged 26% year to date, pushing its valuation to a 5-year high at 36 times price-to-earnings. The firm sees sluggish sales for the iPhone 18 Pro and Pro Max, and no longer believes the 10% shipment cuts in the September and December quarters can be recovered before 2027. Of the 43 analysts covering Apple, 25 still rate it buy or strong buy. Apple shares fell roughly 1% following the downgrade.
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