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Investment firm Redburn Atlantic has become the latest to downgrade Apple, although its analyst is keeping its $200 price target.
Apple’s iPhone 15
Apple’s iPhone 15
Following Barclays’ expectation that the iPhone 16 will have no compelling features, Piper Sandler also downgraded Apple over fears of falling demand. Now Redburn Atlantic has become the third such investment firm to downgrade Apple in January 2024.
According to Seeking Alpha, analyst James Cordwell has kept his $200 price target, but downgraded Apple from buy to neutral. He predicts that iPhone sales will resume growing over 2024, but that the March quarter could be poor, and there is “little room for upside” over the next few years.
Originally appeared here:
Third investment firm downgrades Apple, but expects iPhone demand to improve
