Apple (AAPL) Stock Falls Amid Lower iPhone Sales Forecast

Jan 02, 2025

Apple's (AAPL, Financial) stock declined over 2%, trading at $245.34. UBS analysts have maintained a "neutral" rating for Apple with an unchanged target price of $236. The analysts highlighted an 8% year-over-year drop in iPhone sales for November. Consequently, they revised their forecast for iPhone sales and revenue for the December quarter to 74 million units and $67.2 billion, down from the previous estimates of 77 million units and $69.7 billion.

In a separate announcement, Apple China revealed plans for a New Year promotional event from January 4 to 7, 2025. The event, named "Chizha Benefits," offers discounts of up to 800 RMB, along with trade-in promotions for new iPhone purchases.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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