Loop Capital downgrades Apple to Hold, saying iPhone shipments are about 13 million short of plan
Wall Street firm Loop Capital has cut its rating on Apple stock, arguing that the company's iPhone shipments for the second half of 2026 will fall well short of plan and are unlikely to be made up later.
According to a report from Investing.com, relayed by MacRumors, Loop Capital moved Apple from "Buy" to "Hold" and lowered its price target from $370 to $330. The firm estimates that Apple is roughly 13 million iPhone shipments behind its second-half plans, and it no longer expects the gap to close.
Loop had previously assumed that memory and processor shortages had merely delayed some shipments, with Apple recovering the volume in 2027. After its latest supply chain checks, the analysts dropped that view, which is the main reason behind the downgrade.