Key TakeawaysJefferies downgraded Apple to "hold" from "buy," saying expectations for sales of the iPhone 16 and 17 are too high.However, the bank raised its price target by nearly $8.The analysts told clients in order to have "serious" artificial intelligence capabilities, smartphone hardware needs to be reworked. Apple (AAPL) shares lost ground Monday after Jefferies downgraded the stock, arguing that the anticipated sales of iPhones are too high. The bank cut Apple's rating to "hold" from "buy," although ...