Barclays downgrades Apple due to iPhone and Mac sales weakness

  • Apple stock downgraded at Barclays due to weak sales of iPhones and Mac computers
  • Analysts note softness in iPhone 15 sales in China and developed markets
  • Growth in services like the App Store expected to slow this year
  • Barclays predicts more Services risk to come in 2024
  • Apple stock rose almost 50% in 2023

Apple, the largest U.S. company by market capitalization, was downgraded at Barclays due to weakness in sales of iPhones and Mac computers. Analysts noted softness in iPhone 15 sales in China and developed markets, while growth in services like the App Store is expected to slow this year. Barclays predicts more Services risk to come in 2024. Despite a strong performance in 2023, with the stock rising almost 50%, concerns over sales and future growth have led to the downgrade.

Public Companies: Apple (AAPL), Barclays (BARC), Alphabet (GOOGL), Amazon (AMZN), Meta (FB), Nvidia (NVDA), Microsoft (MSFT), Tesla (TSLA)
Private Companies:
Key People: Tim Long (Strategist)

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Factuality Level: 7
Justification: The article provides information about Apple’s stock being downgraded at Barclays and the reasons behind it. It also mentions the weakness in sales of iPhones and Mac computers. The article includes specific details such as the price target and the premarket trading price. However, it lacks additional sources or perspectives to verify the information provided.

Noise Level: 3
Justification: The article provides relevant information about Apple’s stock downgrade and the reasons behind it. It also mentions the sales checks and growth in services. However, it lacks in-depth analysis, evidence, and actionable insights. The article also includes unrelated information about the temporary ban on Apple Watch sales and the performance of other tech companies.

Financial Relevance: Yes
Financial Markets Impacted: Apple stock

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the downgrade of Apple stock by Barclays due to weakness in sales of iPhones and Mac computers. It also mentions the potential slowdown in growth of services such as the App Store. However, there is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com