Barclays Downgrades Apple Stock  Price Amid Concerns of Slowing iPhone Demand

Barclays Downgrades Apple Stock Price 2024

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

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

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

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

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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.

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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.

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