Apple: Jefferies upgrades stock

Published: 2025-07-02 09:27:43 ET AAPL

Published on 07/02/2025 at 09:27

Jefferies has upgraded Apple shares from "underperform" to "hold," with a target price increased from $170.62 to $188.32, with the broker expecting a strong Q3 report.Jefferies says that the June quarter could pleasantly surprise, with revenue growth of around 8% and EPS growth of around 10%, exceeding consensus estimates by 5% and 9% respectively, while targets for the September quarter are likely to remain limited.The market's positive view on tariffs is probably too optimistic, Jefferies warns, which also questions Apple's service revenues and therefore believes that 'long-term risks remain'.Copyright (c) 2025 CercleFinance.com. All rights reserved.The information and analyses published by Cercle Finance are provided solely as a decision-making aid for investors. Cercle Finance cannot be held liable, directly or indirectly, for the use of such information and analyses by readers. Anyone who is not an expert in the field should consult a professional advisor before investing. This information is provided for informational purposes only and does not constitute an offer to sell or a solicitation to buy.