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Telecommunications & Media

Apple 20th anniversary iPhone to launch as planned, report says

Apple is pressing ahead with a redesign of next year’s iPhone Pro models aimed at the iPhone’s 20th anniversary, a report said. Bloomberg reported the company is keeping its new design plan, featuring a glass-focused exterior. The report contradicts a claim by Jefferies analyst Edison Lee that an all-glass iPhone plan was cancelled due to production yield issues. Jefferies cut its Apple rating and lowered its target price.

Telecommunications & Media

Jefferies downgrades Apple, cuts target on report all-glass iPhone plan scrapped

Jefferies cut its price target on Apple to $263.66 and downgraded the stock to underperform from neutral, citing a report that Apple\'s planned 2027 all-glass iPhone has been cancelled. The brokerage had already lowered its target after Apple\'s earnings release, trimming it from $308.92 to $285.56 before cutting it again. Apple shares fell 1.53 percent to $308.26.