In less than 3 days, $AAPL sell off on iPhone sales no longer mattered and $MSFT $60B buyback news pop reaction was erased. https://t.co/c6mv0uxGDs
Apple iPhone Demand Worries May Weigh on the Stock. An Analyst Says Buy the Dip. https://t.co/Xn7VZtDqF5
Apple could fall to $200 on iPhone worries and that's when you buy, says Morgan Stanley https://t.co/UPqEWnQcrX
Apple Inc. ($AAPL) has experienced a significant decline in its stock value, losing over $116 billion in market capitalization. This drop is attributed to lower-than-expected demand for the newly launched iPhone 16, with pre-orders falling short of estimates. The iPhone 16 is already being sold at a discount of up to 11% in China, as reported by the South China Morning Post, further indicating weak demand. Analysts from various firms, including Barclays and Morgan Stanley, have expressed concerns about the company's near-term performance. Barclays analyst Tim Long has issued a 'Sell' rating, citing the disappointing early performance of the iPhone 16 in China. Morgan Stanley has projected a near-term downside to $200 for Apple's stock while maintaining an overweight rating and a $273 price target. Additionally, delays in AI integration have also contributed to the decline in Apple's market value, wiping out $96 billion. Despite these concerns, some analysts suggest that the current dip presents a buying opportunity for investors.
