Apple Downgraded by KeyBanc as Analysts Split on Stock Outlook

KeyBanc Capital Markets downgraded Apple Inc. (AAPL) to Underweight and set a new price target of $250, citing a slowdown in consumer spending, higher iPhone prices, slower upgrade cycles and reduced carrier subsidies. The firm noted a 2% decline in Apple‑related spending from May to June, contrasting with a typical 9% rise.

In contrast, Morgan Stanley raised its price target for Apple to $360 and reaffirmed a buy rating, pointing to the stock’s recent rally above $300 and expectations of strong earnings in the upcoming quarter. The bank’s technology research head highlighted a potential double‑digit gain.

Other analyst moves in the same period included downgrades of IBM by HSBC and upgrades of various energy and technology firms, reflecting a mixed sentiment across the broader market.