Jefferies downgrades Apple stock, cites all-glass iPhone cancellation rumor

Jefferies today became the latest firm to cut Apple’s stock price target in recent days, citing supply chain checks that suggest Apple has scrapped plans for a rumored all-glass iPhone expected to mark the device’s 20th anniversary next year. Here are the details.

If you were hoping for an all-glass iPhone, a new report from Barron’s might shatter that dream. The financial news source reports that Jefferies analyst Edison Lee believes development on an all-glass mobile device has come to a halt. According to the report, Lee thinks the device was canceled because of “poor product

Investment firm Jefferies on Monday downgraded Apple from hold to underperform, cutting its price target from $285.56 to $263.66.

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A Jefferies analyst says that it may be harder than it looks for Apple to roll out dramatically more expensive devices in a bid to boost profitability.