Barclays cuts Apple price target on concerns over demand weakness, slowing services growth
Publishing timestamp: 2023-01-11 15:16:32
Summary
Barclays analysts lowered their estimates for Apple due to production problems, weakening demand, and decelerating services growth. Foxconn, Apple's primary factory in China, has been hit with Covid outbreaks and worker protests, and Beijing's policy of strict lockdowns and mass testing could impact demand for iPhones. Investors are also wary of rising interest rates and declining consumer confidence, which could hurt demand for Apple's premium-priced products.
Sentiment: NEGATIVE
Tickers: 2354-TW, AAPL, BARC-GB,
Keywords: china, apple inc, iphone, barclays plc, enterprise, technology, zhengzhou, business news,