"Analyst Predicts 15% Drop in Apple iPhone Shipments for 2024"
TL;DR Summary
Apple's stock fell 1.9% after analyst Ming-Chi Kuo predicted a potential 15% decline in iPhone shipments in 2024 due to competition from Huawei and foldable smartphones in China. This follows recent downgrades by Barclays, Piper Sandler, and Redburn Atlantic, while Bank of America upgraded the stock citing future growth catalysts. Apple's market cap has also slipped, and the company faces scrutiny over its App Store policies and potential antitrust lawsuits. Amidst these challenges, Apple is gearing up to launch its Vision Pro AR/VR headset on Feb. 2.
- Apple stock falls 1.5% as analyst Kuo says iPhone shipments could drop 15% in 2024 Yahoo Finance
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- What could bring Apple down? The Economist
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