Posted 4/1/2024, 2:50:00 PM
Apple's Growth Forecast Cut Due to Slowing iPhone Sales and Rising Competition
- Wall Street firm cuts Apple price target, citing slowing iPhone demand and flat selling prices
- Sees Apple's revenue and earnings declining in 2024 for the first time since 2016
- Quarterly estimates for Apple at risk due to soft iPhone demand and competition
- Apple facing significant competition from Huawei and Xiaomi in China
- Apple has sharply cut iPhone production forecasts for 2024 amid weak demand
