Wall Street Firm Says Sell Apple, Expects 16% Drop

Jefferies downgraded Apple to a sell rating on August 10, 2026, setting a price target of $263.66 — about 16% below recent levels. Analyst Edison Lee cited troubling iPhone plans and overhyped expectations for a folding model. Supply-chain checks also showed Apple canceled a planned all-glass phone, removing a way to charge higher prices.