Upgrade to "Hold" by Jefferies analyst based on potential Q3 iPhone sales growth

Apple (AAPL) stock has struggled in 2025, down 16% year-to-date, but Jefferies analysts upgraded it to “Hold” based on potential Q3 iPhone sales growth. Despite raising Q3 iPhone sales forecast to 49.4 million units, they cut September quarter forecasts. Recent gains are due to possible Siri enhancement partnerships. Challenges include resistance to India manufacturing diversification, lower iPhone 17 production forecasts, and potential tariff impacts. Services segment shows strong growth but faces regulatory scrutiny. The market’s response to Apple’s AI strategy and manufacturing challenges will determine future performance, with AAPL rated a “Moderate Buy” on Wall Street.

Read more at Yahoo Finance: One Apple Bear Just Threw in the Towel With This Upgrade. Is It Time to Buy AAPL Stock?