Posted 1/2/2024, 5:16:05 PM
Apple Shares Drop on Barclays Downgrade Citing Slowing iPhone Demand and Services Scrutiny
- Apple's stock drops 3% to 7-week low on Barclays downgrade amid weak demand forecasts
- Barclays warns of iPhone 15 and 16 sales being lackluster with no compelling new features
- Share price fall may erase $90 billion from Apple's huge market valuation
- Demand slowdown continues from 2023, especially weak performance in China market
- Services business also facing regulatory scrutiny and risks in countries like the US