"Apple's Market Slide Continues as Barclays Downgrade Triggers Supplier Sell-Off"
TL;DR Summary
Shares of Apple suppliers, including Taiwan Semiconductor Manufacturing Company (TSMC) and Foxconn, fell in Asia following a downgrade of Apple's stock by Barclays due to anticipated weak demand for Apple products in 2024. Barclays lowered its price target for Apple and cited concerns over iPhone 15 sales and a lack of recovery in other Apple products. Despite the downgrade, some analysts believe TSMC is positioned for growth due to its advanced technology and potential market gains. Apple's stock closed lower after the downgrade, affecting supplier stocks and broader technology indices in Asia.
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- iPhone's Softer Demand Leads Barclays to Downgrade Apple PYMNTS.com
- Apple Stock Downgraded On Growth Concerns Investor's Business Daily
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