Apple's 20th anniversary iPhone could be less exciting next year. Today, Jefferies analyst Edison Lee released a new report that downgraded Apple from sell to hold in his stock recommendations.The report, "Roadmap to Higher-Priced iPhone Looks Challenging; Downgrade to UNPF," claims that Apple has canceled the all-glass version of the iPhone 20 due to "low yield.""Apparent cancellation of the 20th anniversary all-glass iPhone is a big setback to raising iPhone's ASP and margin in the medium term," Lee wrote in the report. This means when Apple tests manufacturing the new phone, only a small amount of its test batches have proven viable.Lee views this as a "major setback" for Apple's plans to sell more expensive iPhones to protect itself against rising memory costs. Apple has been reluctant to really blame memory costs for the recent rising prices, but it's clearly a factor.Despite this, Lee and other analysts appear cautiously optimistic about Apple's long-term outlook, per TipRanks.iPhone Ultra and iPhone 19 Pro Max insights
(Image credit: Majin Bu/X/Tom's Guide)Lee's report suggests that Apple will return to the iPhone 19 nomenclature next year, not iPhone 20, but the Pro Max would get an upgrade to 16GB of RAM from 12GB.Unfortunately, that could mean higher prices. Lee suggests that the forthcoming iPhone Ultra could cost as high as $2,199 for the 256GB storage version, while the 2TB model could be $3,099 based on estimates.Get instant access to breaking news, the hottest reviews, great deals and helpful tips.The Pro Max could go up by $100.What the iPhone 20 is supposed to feature
