모바일 뉴스: 17 9월 2025 - 10 10월 2025

October 13, 2025, 8:04 AM EDT. Jefferies analyst Edison Lee lowers Apple's price target to $203.07 and reiterates an underperform rating, signaling more downside than upside for the iPhone maker. The revised target implies about a 17% drop from Friday's close near $245. AAPL's valuation is viewed as unattractive at current levels. Lee points to tariff volatility as a major headwind, noting shifts in smartphone tariff exemptions and ongoing U.S.-India and U.S.-China tariff dynamics. He argues that government pressure could push more iPhone production into the U.S. and into India, while a higher bill of materials and a softer iPhone 17 sales trajectory could compress margins. The note follows an earlier downgrade to underperform on lofty expectations for the next iPhone.

October 13, 2025, 8:02 AM EDT. Jefferies analyst Edison Lee cut Apple's price target to $203.07 from $205.16 and keeps an underperform rating. He argues there is more downside than upside for Apple, and the revised target implies about a 17% drop from Friday's close near $245.27. While Apple is down modestly year-to-date, Lee says the stock's valuation remains unattractive. Tariffs and geopolitics are headwinds: the current tariff-exempt status of smartphones could change, and uncertainties in the U.S.-India and U.S.-China tariff frameworks are under-estimated risks. With Trump's tariff on Chinese imports, smartphone imports' exemptions are uncertain. China likely can't meet all U.S. iPhone 17 demand with India production. Plus, pressure to make more iPhones in the U.S. could grow if U.S.-China tensions persist. iPhone 17 margins and momentum may worsen due to mix and higher BOM costs.

October 13, 2025, 8:00 AM EDT. Jefferies analyst Edison Lee trimmed Apple's price target to $203.07 from $205.16, reiterating an underperform rating and saying there is more downside than upside. The new target implies about a 17% downside from Friday's close of $245.27. Lee flags tariffs as a major headwind, noting potential changes to smartphone tariff exemptions and uncertainties in the US-India and US-China frameworks amid ongoing trade tensions. He also argues China's production may not meet all US iPhone demand, increasing pressure to ramp up US manufacturing and potentially squeezing iPhone 17 margins on a less favorable product mix and higher BOM costs. The analyst had downgraded Apple earlier this month, citing loftier expectations for the next iPhone and slower momentum.

October 13, 2025, 7:58 AM EDT. Jefferies analyst Edison Lee lowers his Apple price target to $203.07 from $205.16 and remains with an underperform rating, saying there is more downside than upside ahead. The revised target implies roughly a 17% drop from Friday's close of $245.27. Lee cites tariffs as a major headwind and warns exemptions for smartphone imports could change, with ongoing uncertainties around U.S.-India and U.S.-China frameworks. He notes that after a recent tariff move, whether smartphone imports from China remain exempt is uncertain. The analyst also flags that iPhone 17 margins could be squeezed by a weaker product mix and higher bill of materials costs, and that sales momentum has slowed. An earlier downgrade to underperform reflected lofty outlooks for the next iPhone.

October 13, 2025, 7:56 AM EDT. Jefferies analyst Edison Lee lowered Apple's price target to $203.07 from $205.16, with an underperform rating and signaling more downside than upside. The new target implies roughly a 17% drop from Friday's close of $245.27. Lee argues Apple's valuation remains unattractive, with tariffs and policy headwinds likely to weigh on margins and demand. He notes risks from tariffs on Chinese-made iPhones, uncertainty over exemptions, and the U.S.-India and U.S.-China tariff framework, plus potential pressure for more U.S.-made iPhones. He also cites a softer iPhone 17 sales trajectory, higher bill of materials, and a challenging product mix-factors that could limit near-term upside despite some bullish expectations earlier this month.