Apple's iPhone 16 Cycle Faces Headwinds: Analyst Warns Of Weaker Demand, Macro Pressures, Potential Early Production Cuts
Portfolio Pulse from Anusuya Lahiri
Barclays analyst Tim Long warns of weaker demand and potential early production cuts for Apple's iPhone 16, maintaining an Underweight rating on Apple Inc. with a price target of $186. The analyst notes possible iPhone build cuts, weak sell-throughs, and shorter lead times, indicating a softer start to the iPhone 16 cycle due to macro pressures and competition.
October 01, 2024 | 7:02 pm
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Barclays analyst Tim Long maintains an Underweight rating on Apple with a $186 price target, citing weaker demand for iPhone 16 and potential early production cuts. The analyst notes a 15% year-on-year decline in initial sales and shorter wait times, indicating softer demand.
The analyst's report highlights weaker demand for the iPhone 16, potential early production cuts, and macroeconomic pressures, all of which are likely to negatively impact Apple's stock price in the short term. The Underweight rating and price target of $186 suggest a bearish outlook.
CONFIDENCE 95
IMPORTANCE 90
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