09:54 AM EDT, 05/02/2025 (MT Newswires) -- Apple ( AAPL ) was downgraded by Jefferies and Rosenblatt Securities amid growing concerns about tariffs and the company's growth prospects, Bloomberg reported Friday, citing notes from the two firms.

Jefferies cut Apple ( AAPL ) to underperform, with analyst Edison Lee stating that while the company's results met expectations, "tariff impact will expand over time to create more earnings downside," Bloomberg reported.

Rosenblatt Securities analyst Barton Crockett downgraded the stock to neutral from buy, saying there's a need for an artificial intelligence-driven "sharp acceleration in iPhone sales" for the shares to outperform, according to Bloomberg.

Jefferies and Rosenblatt Securities didn't immediately respond to MT Newswires' requests for the notes.

Apple ( AAPL ) shares fell nearly 5% in recent Friday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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