Loop Capital 将 Apple 的评级从买入下调至持有，目标价从 370 美元下调至 330 美元，原因是 9 月至 12 月的 iPhone 出货计划下降了 10%，且市场怀疑这些出货能否在 2027 年恢复。出货延迟可能导致收入转移或流失，内存成本上升威胁利润率，而且几乎没有令人失望的余地。
逐段跳播
接下来我们说说下一家公司 Apple，它的排名有所下滑。我知道“Due”设备的出货已经延迟了。其实今天早上我开始听到一点消息，说他们可能会加大在美国的运营力度，但我还没有确认。
Let's talk about the next company, Apple, which has seen a drop in its ranking. I know that the shipment of the "Due" device has been delayed. I actually started hearing a little this morning about the possibility of them stepping up operations in the United States, but I haven't confirmed that.
是的，Apple 今天股价表现略有下跌，此前其评级被华尔街下调。Loop Capital 将 Apple 股票的评级展望从“买入”下调至“持有”。所以，他们在这里采取了中性立场。
他们把该股的目标价下调至 330 美元。这比之前的 370 美元有所下降。这大约是 1 个百分点的变动，或者说比昨天的收盘水平低了约 4%。
Yes, there is a slight decline in Apple's stock performance today after its rating was downgraded by Wall Street. Loop Capital has downgraded its outlook on Apple stock from "buy" to "hold".
So, they are taking a neutral stance here. They are lowering their target price for the stock to $330. This is a decrease from the previous level of $370. This is a move of approximately one percentage point, or about 4% less than yesterday's closing levels.
在最新的 iPhone 出货数据削弱了预期之后，这位分析师下调了预估。市场担心销售延迟以及难以弥补这些延迟。Loop Capital 表示，9 月至 12 月这一季度的 iPhone 出货计划已下降了 10%。
The analyst lowers estimates after new iPhone shipment data weakened expectations. There are concerns about sales delays and the difficulty of making up for them. Loop Capital says iPhone shipping plans for the September-December quarter have fallen by 10%.
起初，他们认为这些减少是与内存和处理器相关的供应链问题。他们预计 Apple 会在 2027 年期间恢复其中许多出货。但现在，从 Loop Capital 的角度来看，这种复苏能否发生存在一些疑问。
Initially, they considered those reductions to be a supply chain problem related to memory and processors. They expected Apple to recover many of those shipments during 2027. But now there is some doubt from Loop Capital's point of view that that recovery will happen.
因此，他们担心 iPhone 收入数据会不及预期的风险。换句话说，延迟的出货可能会把收入前景推迟到更晚的季度。而始终未能实现的出货，从那时起就会对销售预测产生负面影响。
Therefore, they are concerned about the risk that iPhone revenue figures will fall short of expectations . In other words, delayed shipments could shift the revenue outlook to a later quarter.
Shipments that never materialize have a negative impact on sales forecasts from that point onward.
Loop Capital 还指出，内存成本上升是 Apple 整体利润率的潜在障碍和威胁。这是他们担忧的一个来源。对他们来说，这是来自多方面压力的担忧。利润率的压力，加上 iPhone 出货量下降，可能会影响收入和未来前景。
因此，他们的观点是，从现在起，令人失望的空间已经很小了。
Loop Capital also points to rising memory costs as a potential obstacle and threat to Apple's overall profit margins. This is a source of concern for them. For them, it is a concern stemming from pressures from several sides here.
Pressure on margins, plus lower iPhone shipments could affect revenue and future outlook. Therefore, the view is that there is little room for disappointments from now on.
观察点
这个频道对 $AAPL 的历次判断
Schwab Network 在这只股票上共 32 条判断，这里只列相邻的几条。