January 29, 2024

Ron Finklestien

Barclays reaffirms bearish stance on Apple prior to earnings; iPhone sales sluggish Barclays reaffirms bearish stance on Apple prior to earnings; iPhone sales sluggish

Senior couple making an apple pie in modern kitchen

Imgorthand/E+ via Getty Images

Barclays reconfirmed its Underweight rating on Apple (NASDAQ:AAPL) ahead of the company’s earnings announcement.

On Monday, the stock experienced a 1% decline as the bank characterized the latest iPhone as “underwhelming,” and predicted a similar response to the next iteration.

For the December quarter, the tech company is projected to release results on par with analyst forecasts. However, guidance for the ensuing quarter is anticipated to fall short of estimates due to waning hardware demand, continuing a trend spanning multiple quarters for AAPL.



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