This article first appeared on GuruFocus.

Sep 30 – Apple’s (NASDAQ:AAPL) iPhone 17 launch has started to lose steam just weeks after hitting the market, according to analysts at Jefferies Financial Group (JEF). While early orders looked strong and briefly pushed AAPL shares higher, new tracking data suggests that sales momentum is fading, especially in the U.S.

Apple stock was down 0.5% on Monday.

Jefferies noted that delivery lead times, the gap between placing an order and receiving the device, have shortened across all four iPhone 17 models.

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Analysts view this as a sign that demand is cooling. The U.S. remains the weakest market among the six we track, Jefferies wrote, pointing out that many buyers may have already upgraded earlier this year due to tariff concerns. The brokerage monitors sales trends in the U.S., China, Hong Kong, Germany, the U.K., and Japan.

Apple now faces pressure to deliver fresh features that can reignite consumer demand. The company has teased new artificial intelligence upgrades for its 2026 iPhone lineup, including a revamped Siri.

Based on the one year price targets offered by 42 analysts, the average target price for Apple Inc is $245.14 with a high estimate of $310.00 and a low estimate of $175.00. The average target implies a downside of -3.65% from the current price of $254.43.

Based on GuruFocus estimates, the estimated GF Value for Apple Inc in one year is $224.16, suggesting a downside of -11.90% from the current price of $254.43. Gf value is Gurufocus’ estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business’ performance. For deeper insights, visit the forecast page.