Edison Lee, a Jefferies analyst, upgraded Apple stock to Hold from Underperform in a research note released on Tuesday, pointing to the possibility that the next earnings report could exceed expectations.

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	Forwarded this email? Subscribe here for more Jefferies upgrades Apple on potential for earnings beat MacDailyNews Jul 2   READ IN APP   Edison Lee, a Jefferies analyst, upgraded Apple stock to Hold from Underperform in a research note released on Tuesday, pointing to the possibility that the next earnings report could exceed expectations. The analyst’s focus is on China, where Lee estimates iPhone sales rose by approximately 10% in the first two months of the June quarter, fueled by strategic discounts. This underpins his prediction of an 8% revenue increase for Apple overall in the quarter, surpassing the company’s guidance of low-single-digit percentage growth. However, Lee anticipates the positive momentum may be short-lived. The robust sales in the June quarter might result in weaker demand in the subsequent September quarter, with the analyst forecasting a 6% drop in iPhone shipments compared to the same period last year. “Sales could be at risk since there remains a lack of new features, and AI is not yet a game changer,” Lee wrote in a note to clients. MacDailyNews Take: Lee set a new, weirdly precise, price target on Apple shares of $188.32, up from $170.62, both of which are far too low, as we expect Mr. Market, including AAPL, to experience a nice stretch following the imminent signing of the One Big Beautiful Bill Act into U.S. law which will remove a significant level of uncertainty by extending major provisions of the 2017 Tax Cuts and Jobs Act. ‎ Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you! Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post Jefferies upgrades Apple on potential for earnings beat appeared first on MacDailyNews. You're currently a free subscriber to MacDailyNews. For the full experience, upgrade your subscription. Upgrade to paid   Like Comment Restack   © 2025 MacDailyNews 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe