Apple on Tuesday fell nearly 3.6% to a seven-week low after Barclays downgraded the shares.
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Expectations of soft demand for Apple’s latest iPhone prompted analysts at Barclays to downgrade the stock.
Global megacap companies posted solid gains in 2023, boosted by optimism over artificial intelligence.
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Apple added nearly $1-trillion in market value this year. Such gains in 2024 will be harder to come by.
Apple is ramping up production of the Vision Pro mixed-reality headset, setting the stage for a launch by February.
Apple and Samsung remain the most popular smartphone brands worldwide.
Apple will pause sales of its Series 9 and Ultra 2 models in the US as it deals with a patent dispute.
The rally in Apple, the world’s most valuable publicly traded company, is showing no signs of easing.
Apple’s stock reached a record high close on Wednesday, lifted in a broad Wall Street rally.