Loop Capital cuts Apple to Hold, lowers price target to $330

Analyst Ananda Baruah downgraded Apple from Buy to Hold and cut the price target from $370 to $330, citing a complicated 2026-2027 iPhone release cycle. Loop Capital now expects 79 million iPhone shipments in the December quarter versus Wall Street's 85 million estimate and lowered its 2027 iPhone revenue forecast from $315 billion to $285 billion.

• Apple rating cut from Buy to Hold; price target lowered from $370 to $330
• December-quarter iPhone shipments forecast at 79 million vs. 85 million consensus
• 2027 iPhone revenue forecast cut from $315 billion to $285 billion
• 2027 EPS forecast lowered from $10.11 to $9.76