Apple’s Stock Falls 1.4% and Investment Rating Downgraded to “Neutral”

Apple’s stock price fell 1.4% in trading on the 4th, hitting an eight-week low. Piper Sandler has downgraded its investment rating from “overweight” to “neutral.” This is the second time this week that Apple’s investment decision has been downgraded, following Barclays on the 2nd. Apple has lost about $170 billion in market value since the beginning of the year. (2024Reuters/Mike Segar)

[Reuters]- Apple stock (AAPL.O) temporarily fell 1.4% in trading on the 4th, hitting an eight-week low. Piper Sandler has downgraded its investment rating from “overweight” to “neutral.” This is the second time this week that Apple’s investment decision has been downgraded, following Barclays on the 2nd. Apple has lost about $170 billion in market value since the beginning of the year.

Piper Sandler’s chief analyst, Harsh Kumar, said in a note to clients that iPhone “sales growth feels like it has reached a peak. The deteriorating macro environment in China could also weigh on it. “It was said. Apple’s price target was also lowered by $15 to $205.

On the 2nd, Barclays lowered its investment grade from “neutral” to “underweight” and lowered its 12-month price target by $1 to $160, citing concerns about weak demand for Apple products such as the iPhone in 2024. See more

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