KeyBanc cut Apple stock's rating to the equivalent of a Sell this morning on concerns over iPhone 16 sales. Here's what that means.

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Apple (AAPL) has regained its standing among the top five smartphone sellers in China during the third quarter with the launch of its iPhone 16, the International Data Corp. (IDC) said.
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KeyBanc Capital Markets analyst Brandon Nispel downgraded Apple Inc. to underweight, citing unrealistic expectations for a broad rebound across its businesses. Ed Ludlow reports.
A Wall Street analyst on Friday downgraded Apple stock to the equivalent of a sell rating ahead of the company's earnings report.
KeyBanc analyst Brandon Nispel is forecasting more downside for Apple (NASDAQ: AAPL) stock, citing several issues, primarily regarding market reception for the company's latest iPhone 16 series.
KeyBanc worries about low upgrade rates and the potential for a lower-cost iPhone SE to cannibalize sales of more expensive models, for example.
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Apple stock bulls are counting on a massive wave of upgrades to the newly launched iPhone 16. KeyBanc analysts see one big risk to those hopes.

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Apple is expected to publish its Q4 FY'24 results on October 31, reporting on a quarter that saw the company launch its latest iPhone 16 devices. Apple stock has had a good run this year, rising by ab
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Apple rejoined the ranks of the top five smartphone providers in the Chinese market in the third quarter, helped by the launch of the iPhone 16, data showed. Apple's shipment growth was flat year-on-y
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