From Nasdaq:

Investors have seen a decline of about 4% in Apple stock so far in 2024, with shares falling to around $185. Concerns about weaker iPhone demand have prompted analysts to downgrade the stock, with iPhone sales in China dropping 30%. Antitrust concerns could also impact the company.

Apple’s computing products have experienced a slowdown in demand following the pandemic. The New York Times reports that an antitrust lawsuit could be filed against Apple by the U.S. Justice Department in the coming months. The lawsuit is expected to focus on Apple’s tightly controlled ecosystem.

Despite the recent struggles of AAPL stock, it has seen strong gains of 40% over the last three years. However, returns for the stock have been inconsistent, with a notable underperformance in 2022. In comparison, the Trefis High Quality Portfolio has consistently outperformed the S&P 500 over the same period.

Apple’s potential to benefit from new AI trends and its strong performance in services sales provide some optimism for the company’s future. However, the current valuation of the stock is relatively high at about 27x 2024 consensus earnings, which could contribute to concerns among investors.

Overall, Apple has its strengths and weaknesses as it navigates through recent challenges. It remains to be seen how the company will perform and whether it can recover from its current stock decline.



Read more: After Over A 40% Rally In 2023, Will Antitrust And iPhone Issues Hurt Apple Stock?