Covers Apple supply chain; downgraded Apple to Underperform based on checks showing all-glass iPhone cancellation and AI-driven component shortages.
no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
Apple's all-glass iPhone for the 20th anniversary has been canceled due to low production yields, removing a key ASP driver. Meanwhile, AI companies are outbidding Apple for TSMC leading-edge capacity and HBM memory, creating structural supply chain and cost pressures that Apple cannot fully offset.