Apple’s quarterly results sparked concerns about tariffs and growth potential, leading to at least two downgrades. Jefferies lowered its rating to underperform, becoming one of the rare bears on the iPhone maker. Despite meeting expectations, analyst Edison Lee warned that the impact of tariffs will escalate, ultimately hurting earnings.
Source: https://www.bloomberg.com/news/articles/2025-05-02/apple-hit-with-two-downgrades-as-tariff-and-growth-worries-grow