WS #13852

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Jefferies downgraded Apple to Underperform with a $263.66 target, citing soaring memory costs and possible cancellation of the glass iPhone, pressuring AAPL premarket. Intel's share sale was upsized to ~$20B, causing INTC to gap down 4.6% premarket, reflecting dilution concerns.

Apple downgrade and memory cost concerns

Jefferies downgraded Apple to Underperform with a $263.66 target, citing soaring memory costs and possible cancellation of the glass iPhone, pressuring AAPL premarket.

Intel's share sale was upsized to ~$20B, causing INTC to gap down 4.6% premarket, reflecting dilution concerns.

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