Barclays Slashes Apple Price Target Amid Services Weakness

Barclays has reduced its price target for Apple stock to $245 from $253 while maintaining an Underweight rating. This decision comes after the company's third-quarter fiscal 2026 results, where revenue reached $109.42 billion, beating Barclays' estimate of $108.05 billion.

The services segment reported a revenue of $30.74 billion, falling short of the firm's estimate of $31.18 billion, and Greater China revenue came in at $18.82 billion, missing the Street consensus of $19.58 billion.

Barclays attributed the underperformance to softness in mobile gaming in the App Store, where link-out transactions put pressure on the top line and contributed to services deceleration. The firm also noted regulatory issues impacting link-out transactions could be affecting the model more meaningfully.