From Nasdaq:

Apple’s stock is down for the new year; analysts are worried

Analysts are concerned about Apple’s future growth prospects, as its shares are down after a strong 2023. Downgrades on the stock and worries about its growth rate have led to bearish sentiments and implications of an impending recession. The consensus analyst price target is just under $200.

AI and headset focus may hinder Apple

Apple’s focus on AI and next-gen technology, including its high-priced Vision Pro headsets, could add problems for investors. With many companies entering the chatbot space, this venture could be costly for Apple, risking its earnings and high price-to-earnings multiple. Tech company Meta Platforms’ similar ventures have drained its earnings and cash.

Is 2024 a bad year for Apple? Not necessarily

Though Apple’s growth rate has slowed for years, the stock could still be a great long-term investment due to its loyal customer base and strong financials. Considering its current weak stock performance, buying shares on weakness this year might be a viable option. There’s no need to be overly concerned about Apple’s stock in the long run.

Considerations for investing in Apple

Investors may do well to buy Apple shares on weakness—despite an uncertain 2024. However, The Motley Fool’s analyst team has not identified Apple as one of the 10 best stocks. It could be worth looking into other stock options for potential monster returns in the coming years.

Read more: Will 2024 Be a Bad Year for Apple’s Stock?