Apple Stock Drops Over 4% Amid China Sales Slump and Wall Street Downgrades

Apple's stock fell more than 4% due to weaker-than-expected sales in China and downgrades by Wall Street firms. The company’s market share in China dropped, falling behind local competitors like Huawei and Xiaomi. This decline was exacerbated by the delayed release of Apple Intelligence, which disappointed both consumers and analysts. Investment firms such as Jefferies and Loop Capital lowered their ratings, citing concerns about sluggish iPhone sales and the lack of innovation in AI. Apple’s stock has lost its momentum, with the market capitalization briefly falling behind NVIDIA. As the company prepares for its Q1 earnings report on January 30, analysts will be closely watching how Apple plans to recover from these challenges.

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Apple Stock Falls Over 4% as Wall Street Downgrades Amid China Sales Slump