Loop Capital has downgraded its rating on Apple, citing concerns over slowing iPhone sales. The firm's analysts expressed apprehension about the company's near-term performance, which could impact its stock price.
The downgrade comes amid broader market worries about consumer demand for high-end electronics. Apple's iPhone lineup has historically been a major driver of revenue, but recent indicators suggest a potential softening in sales.
Loop Capital's decision reflects a cautious outlook on Apple's ability to maintain growth momentum. The firm's analysts did not provide specific price targets or revised earnings estimates in their report.