GF Securities Downgrades Apple Stock Amid Supply Constraints and Weak Guidance
Apple (AAPL) stock fell sharply following disappointing guidance from management, prompting GF Securities to downgrade the company's shares to 'Hold.' The firm cited supply constraints affecting memory availability as a key concern, which could lead to higher iPhone prices and potential demand uncertainty. Apple guided for roughly 10% sales growth in its current quarter, below the LSEG consensus of 12%, while also forecasting gross margins slipping below 47%. Despite this decline, AAPL shares are still up over 25% from their year-to-date low. GF Securities highlighted that Apple's forward P/E ratio is currently above 38x, which appears high for a company issuing weaker-than-expected guidance. The downgrade comes as investors remain cautious about the lack of AI-driven growth in recent quarters and await clearer signs of momentum from Apple Intelligence initiatives. However, Barchart still holds a '64% BUY' opinion on AAPL shares based on technical indicators. The broader consensus among Wall Street analysts remains cautiously optimistic, with a
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Topics: Apple GF Securities downgrade iPhone sales guidance memory constraints