'Unimpressed': D.A. Davidson Downgrades Apple Inc. (AAPL) To Neutral, Maintains Price Target of $250

Apple Inc. (NASDAQ:AAPL) is among the 15 Stocks ChatGPT Predicts Could Make You Wealthy in 5 Years. On September 11, investment firm D.A. Davidson downgraded the stock to Neutral from Buy, saying it was ‘unimpressed’ by its latest products.

However, analyst Gil Luria maintained his earlier price target of $250, which represents a 7% upside potential from Friday’s close. The analyst expressed disappointment at Apple Inc. (NASDAQ:AAPL)’s product strategy and said that unless the company redefines its offerings or develops compelling new ones, growth is expected to stay stagnant.

“While we don’t question the utility of the products, Apple has brought lackluster innovation to their core lineup, starting with the iPhone. Even a foldable iPhone, which we expect to be announced next year, may not be a compelling enough of a reason for the average user to go out of their way to upgrade, thus we are left unimpressed until the company can either truly innovate on their core lineup or develop a new product category to accelerate growth.”

Luria also pointed out how Apple Inc. (NASDAQ:AAPL) was losing footing to growing overseas competition, especially from China. Moreover, the analyst highlighted the company’s lack of role in the AI ecosystem as another disappointment.

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