Reported about 13 hours ago
Apple's stock received two downgrades from analysts due to disappointing iPhone sales and less enthusiasm for its AI initiatives. Jefferies analyst Edison Lee lowered the rating to Underperform and cut the price target to $200.75, while Loop Capital downgraded from Buy to Hold with a new target of $230. The downgrades follow predictions of lower-than-expected quarterly results and a decline in iPhone market share, especially in China, where sales fell significantly. Despite a strong 16% rise over the past year, Apple faces tough competition from local brands and broader economic challenges.
Source: YAHOO