Apple Cancels All-Glass 20th Anniversary iPhone; Jefferies Downgrades Stock

Jefferies analyst Edison Lee says supply-chain checks indicate Apple’s rumored all-glass 20th‑anniversary iPhone has been scrapped due to poor production yield, prompting a downgrade to Underperform with a lowered price target. The design, once pitched to feature curved glass, under-display Face ID and minimal bezels for a 2027 launch alongside a foldable iPhone, may still influence future models, but the all-glass concept is reportedly off the table as memory costs and Apple’s AI initiatives add pressure on pricing and margins.