Barclays Downgrades Apple Stock Price 2024


There is a potential decrease in demand for iPhones expected in the near future, which could have an impact on Apple's stock price.

Barclays, a financial institution, has downgraded Apple's stock rating, anticipating a slowdown in iPhone demand.

The analysts, led by Tim Long, have lowered Apple's rating to "underweight" and reduced the price target to $160. 

They suggest that the stock may experience a 17% decline over the next year.

Following Barclays' report, in premarket trading on January 2, 2024, Apple's stock is currently trading with a 1.4% decrease. This information is based on Bloomberg's report.

In simpler terms, experts believe that fewer people might buy iPhones soon, and this prediction has led Barclays to lower its opinion on Apple's stock, indicating a possible decrease in its value over the next year. As a result, in early trading, Apple's stock is showing a 1.4% decline.