‘iPhone 16’ and 3 other reasons Barclays gave for ‘downgrading’ Apple

Barclays downgraded Apple stock, causing a 3.6% drop to a seven-week low. The company now has its most bearish recommendations in two years. Barclays analysts expect weakness in iPhone volumes and mix, as well as little growth in Macs, iPads, and wearables. Apple’s demand slowdown and performance in China are concerns. Barclays slightly lowered its price target for Apple stock. The note highlights continued iPhone weakness, stagnant growth in Mac and iPad segments, deceleration in Services, and diminishing returns on the Apple ecosystem.