KeyBanc Reiterates Underweight Rating on Apple (AAPL)

KeyBanc analyst Brandon Nispel reiterated an Underweight rating and $250.00 price target on Apple (NASDAQ: AAPL).

The analyst commented: "September Hardware KFLD +44% M/M; We remain Underweight AAPL ($250 PT). Our KFLD shows Indexed Spending +44% m/m in September, which is well above the three-year avg of +15% m/ m. We think this points to strong initial iPhone 18 interest and pricing benefits, not impacting demand for early adopters. We think the broader population is unlikely to act similarly: Carrier promos are weaker y/y, upgrade rates should be lower, and we think demand quickly fades with iPhone production cuts to follow. We're updating estimates to reflect these dynamics and different iPhone/Mac shipments where we are well below consensus '27 estimates."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $342.96 yesterday.

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