Jefferies analysts downgraded Apple (NASDAQ:AAPL) stock from 'Hold' to 'Underperform' and reduced the price target to $200.75 from the previous $211.84. The firm's assessment of the $3.46 trillion tech giant comes as InvestingPro data shows the stock trading at $229.

Earlier today, it was reported that Apple's (NASDAQ: AAPL) iPhone sales fell 18.2% in China in the fourth quarter of 2024, while the resurgent Chinese rival Huawei Technologies took the top spot, according to Counterpoint Research. Apple is slated to report its fiscal first quarter results on Jan. 30.

Jefferies has issued a stark warning for Apple investors, downgrading the stock to “underperform” from “hold” and lowering its price target to ₹200.75 from ₹211.84, as per a CNBC report. This new target implies a potential downside of 13% from Apple’s current market price.

Forecasts for weak iPhone sales and a weaker update of new artificial intelligence features prompted strategists led by Edison Lee to lower the rate to Underperform from Hold.

Apple Inc. (NASDAQ:AAPL) finds itself at a critical juncture as it navigates the evolving landscape of artificial intelligence (AI) integration while grappling with concerns over iPhone demand. This comprehensive analysis examines the tech giant's current position,

In China, Apple’s second largest market, iPhone sales fell 18% in the December ending quarter, according to Bloomberg.

The AI chipmaker ( NVDA) overtook Apple in market cap in early November, before Apple shifted back to the top spot later in that month. Apple ( AAPL) shares hit an all-time high of $260.10 on Dec. 26 but have since lost ~15%.

Nvidia (NVDA) reclaimed its title as the world’s most valuable public company on Tuesday as Apple’s (AAPL) shares slid.

Live Updates Make sure to refresh this page periodically for updates. What Stocks are Moving on Trump Executive Orders? 11:29 am Earlier we noted that Tesla may be dropping today thanks to an executive order from Donald Trump that could put limits on pro-EV legislation.

Tuesday's market has seen significant movements among stocks, with some companies experiencing notable gains while others face declines. Mega-cap stocks like Oracle Corp (NYSE:ORCL) and Apple Computer Inc (NASDAQ:AAPL) have made headlines with their intraday stock movements,

Tesla falls on Trump’s plans to roll back EV production targets, Apple gets a downgrade, and 3M and Charles Schwab score earnings beats.