Apple Inc (NASDAQ:AAPL) shares are retreating Monday after Jefferies took a bearish position on the iPhone maker, shifting its rating to Underperform from Hold and reducing its price target to $263.66 from $285.56.
Here's what you need to know.
Apple stock is showing weakness.
Why are AAPL shares declining?
Jefferies Cuts Apple Rating Following Supply Chain Checks Jefferies analyst Edison Lee made the move after supply chain checks pointed to the cancellation of an all-glass iPhone that had been scheduled to reach consumers on Sept. 27, with low manufacturing yield identified as the reason the product will not go forward.
