Loop Capital Cuts Apple to Hold and Lowers Price Target to $330

Loop Capital downgraded Apple Inc. to Hold from Buy and cut its price target to $330 from $370, implying downside from its $342 closing price. Analyst Ananda Baruah cited supply chain checks showing Apple is unlikely to recover 13 million iPhone shipments cut in the second half of 2026, alongside margin risks from rising memory costs. Loop Capital lowered its December-quarter shipment forecast to 79 million units from 85 million and reduced its average selling price estimate to $1,123. For calendar 2027, the firm cut its iPhone revenue expectation to $285 billion and EPS estimate to $9.76.