KGI Securities Downgrades Apple to Hold, Sets $315 Target
KGI Securities has downgraded Apple Inc. to a hold rating, setting a price target of $315, a 13.90% upside from the current price.
Key Points
- KGI Securities downgraded Apple Inc. to a hold rating with a $315 price target on June 22, 2026.
- KGI Securities's $315 price target implies 13.90% upside from Apple Inc.'s ($AAPL) current $276.56 share price.
- Apple shares traded near $297.89 on Monday, with a market cap of $4.38 trillion and a P/E ratio of 36.1.
- Insiders at Apple have been active, with recent transactions including planned and unplanned sales by key officers.
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KGI Securities has taken a more cautious stance on Apple Inc. (NasdaqGS: AAPL), downgrading the stock to a hold rating and setting a price target of $315. This change was announced on June 22, 2026, reflecting a more tempered outlook for the tech giant.
KGI Securities vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Other Institutional Activity in Apple
BlackRock, Inc. trimmed its holdings in Apple by 9,970,306 shares, now holding approximately 1.14 billion shares valued at about $290.5 billion. Vanguard Capital Management LLC opened a new position with 953,847,648 shares, valued at approximately $242.1 billion. State Street Corp reduced its stake by 1,715,096 shares, leaving it with around 602.3 million shares worth approximately $152.9 billion. Geode Capital Management, LLC increased its holdings by 10,584,437 shares, now holding about 368.6 million shares valued at $93.3 billion. Vanguard Portfolio Management LLC also opened a new position, acquiring 331,437,055 shares valued at approximately $84.1 billion.
Apple Inc. Stock Down 13.5%
Shares of Apple traded near $297.89 on Monday. The company boasts a market cap of about $4.38 trillion and a P/E ratio of 36.1. Apple has a beta of 1.086, indicating moderate volatility compared to the market. Over the past year, the stock has seen a low of $198.96 and a high of $317.4, with a 50-day moving average of $288.74 and a 200-day moving average of $268.19. The current ratio stands at 1.07, and the quick ratio is 0.906, with a debt-to-equity ratio of 79.548.
$AAPL price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Apple reported revenues of $451.4 billion, reflecting a growth rate of 16.6%. The company's net margin stood at 27.2%, and its return on equity was an impressive 141.5%. Earnings per share were $8.25. Investors are looking forward to the next earnings report, expected on July 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
10 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 1.1%. Revenue missed estimates by 0.6%.
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Profit surprise
EBITDA beat by 2 percent. Operating income beat by 3 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
10 target raises.
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Earnings quality
Gross margin up 2.2 points. Operating margin up 1.2 points. Positive free cash flow.
Earnings Call Summary
Apple delivered its best-ever quarter with 143.8 billion dollars in revenue, up 16 percent. iPhone surged 23 percent to 85.3 billion dollars driven by strong customer demand for the iPhone 17 lineup and record upgraders in China and India. Services hit an all-time record of 30 billion dollars, up 14 percent, while the installed base reached 2.5 billion active devices. Management highlighted Apple Intelligence features resonating with users and expanded retail presence in India as growth drivers.
Guidance Apple expects March quarter revenue to grow 13 percent to 16 percent year over year, with services growing at a similar rate to December. Gross margin should land between 48 percent to 49 percent. The company faces iPhone supply constraints from advanced chip demand but remains confident in the business outlook.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Apple pays an annual dividend rate of $1.08, yielding 0.36%. The dividend payout ratio is 12.6%, indicating a conservative approach to dividend distribution.
Insider Buying and Selling at Apple Inc.
Insider activity at Apple has been notable. On June 16, 2026, Ben Borders, Principal Accounting Officer, sold 116 shares at an average price of $295.14 under a planned sale. On June 15, 2026, he sold 124 shares at $296.42, not under a plan. Jennifer Newstead, SVP, GC and Secretary, bought 30,104 shares on June 15, 2026, and sold 16,238 shares at $296.42 on the same day.
Analysts Set New Price Targets
On June 22, 2026, KGI Securities downgraded Apple to a hold rating with a $315 price target. Earlier in June, firms like TD Cowen and Maxim Group maintained their buy ratings with price targets of $350. Morgan Stanley also kept its buy rating with a target of $360. The consensus among analysts is a buy recommendation, with an average target price of $314.42 based on 42 opinions.
About Apple Inc.
Apple Inc., headquartered in Cupertino, California, is a global leader in technology, designing and manufacturing consumer electronics like the iPhone, iPad, and Mac computers. Under the leadership of CEO Timothy D. Cook, Apple also offers services including the App Store, AppleCare, and various subscription services such as Apple Music and Apple TV. The company employs around 166,000 people and operates in the consumer electronics industry.
Bottom Line
KGI Securities' downgrade of Apple Inc. to a hold rating suggests a more measured outlook for the company, with a price target of $315. Investors track these changes closely, as analyst ratings can influence market perceptions. Remember, these analyst opinions reflect past analyses and may not indicate current or future performance.
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