The Globe and Mail reports in its Wednesday, Jan. 22, edition that Jefferies analyst Edison Lee downgraded Apple to a rare "underperform" rating, warning of a potentially weak revenue number. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Lee cut his share target to $200.75 from $211.84 (all figures U.S.). Analysts on average target the shares at $243.96. Mr. Lee expressed concerns about slowing iPhone demand and, more generally, consumer electronics headwinds. He says Apple will miss its first quarter fiscal 2025 revenue growth target of 5 per cent and will provide guidance for minimal growth in the second quarter. Mr. Lee is also concerned about slower artificial intelligence adoption. The Globe reported on Dec. 27 that Wedbush analyst Dan Ives had reaffirmed his "outperform" ranking for Apple. In the item Mr. Ives said, "We believe Apple is heading into a multiyear AI driven iPhone upgrade cycle that is still being underestimated by the Street." The shares could then be had for $255.59.