Apple hits seven-week low after Barclays downgrade
- Apple's shares dropped, resulting in a $90 billion loss in market capitalization, after being downgraded by Barclays to "underweight" and with concerns about weak demand for its devices.
- Apple has been experiencing a demand slowdown since early last year and its performance in China has been affected by competition from Huawei. Barclays analyst Tim Long noted a lackluster response to the iPhone 15 and predicted similar results for the iPhone 16. There are also mounting risks for Apple's services business due to regulatory scrutiny.
- The downgrade by Barclays marks the second negative rating for Apple and has led to the most bearish recommendations for the company in at least two years. Apple's stock is a significant component of the S&P 500.
26 Articles
26 Articles
Apple hits seven-week low after Barclays downgrade
Apple on Tuesday fell nearly 3 percent percent to a seven-week low after Barclays downgraded the shares of the world’s most valuable firm on concerns demand for its devices from the iPhone to Mac will remain weak in 2024. Barclays is the second brokerage to have the equivalent of a “sell” rating on the stock,
Apple stock will fall 17% over the next year as iPhone demand cools, Barclays says in downgrade note
Apple usually keeps its upcoming releases under very tight wraps, but CNBC reporters recently got an exclusive look into its chip-testing lab.Kabir Jhangiani/NurPhoto via Getty Images Apple's stock will tumble 17% to $160 by 2025, Barclays analysts wrote in a new research note. They downgraded the stock to underweight, citing continued sluggish iPhone sales in China. Apple stock fell 3.5% on Tuesday following the bearish projection. Apple stock …
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