{"id":75131,"date":"2023-10-21T03:16:47","date_gmt":"2023-10-21T07:16:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/apple-stock-falls-again-whats-behind-the-losing-streak\/"},"modified":"2023-10-21T03:16:50","modified_gmt":"2023-10-21T07:16:50","slug":"apple-stock-falls-again-whats-behind-the-losing-streak","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=75131","title":{"rendered":"Apple Stock Falls Again. What&#8217;s Behind the Losing Streak."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000775833\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Apple<br \/>\n       stock fell for the sixth straight day on Friday.<\/p>\n<p>\n        Apple<br \/>\n       (ticker: AAPL) stock finished 1.5% lower at $172.88. This losing streak is the longest since January 2022, according to Dow Jones Market Data.<\/p>\n<p>A few factors drove shares lower this week. For one, several Wall Street analysts have raised concerns about global iPhone demand. <\/p>\n<div class=\"paywall\">\n<p>Evercore ISI analyst Amit Daryanani wrote in a research note Friday that demand for different iPhone 15 models is currently mixed.<\/p>\n<p>\u201cThe data points continue to point to stable demand for the iPhone 15 Pro and Pro Max models vs. a year ago across most geographies, while the lower-end models lead times saw big contractions this week,\u201d Daryanani said. He rates the stock as Outperform with a $210 price target. <\/p>\n<p>UBS analyst David Vogt, who rates Apple as Neutral with a $190 price target, wrote in a research note Tuesday that wait times for the iPhone 15 Pro model have contracted by an average of five days compared with last year, according to UBS Evidence Lab data that tracks iPhone availability across 30 countries.<\/p>\n<p>\u201cWhile there are catalysts for smartphone demand approaching with the holiday season and Singles\u2019 Day in China, the upside for iPhones is somewhat limited considering the macro environment and the competitive landscape with Huawei\u2019s Mate60 in China,\u201d Vogt wrote. <\/p>\n<p>Apple didn\u2019t immediately respond to a request for comment.<\/p>\n<p>Sales of the iPhone are crucial for Apple: The phone provided $205.5 billion of the company\u2019s total $394.3 billion in revenue in 2022. And revenue from product sales fell 4% from a year earlier in the company\u2019s third quarter, ended July 1, a decline the company attributed to foreign-exchange rates and an uneven economic environment. <\/p>\n<p>Rising bond yields have also hurt growth stocks, including many tech companies, reducing the current, discounted value of earnings that are expected years in the future. The yield on the<br \/>\n        10-year Treasury note<br \/>\n       rose to nearly 5% late in the week, for a gain of 1.2 percentage points since July. The tech-heavy<br \/>\n        Nasdaq Composite<br \/>\n       fell as much as Apple stock did this week.  <\/p>\n<p>Apple is scheduled to report its fourth-quarter earnings after the closing bell on Nov. 2. Investors will be looking for management to provide information on iPhone demand.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/apple-stock-price-losing-streak-1eb4fb21?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple stock fell for the sixth straight day on Friday. Apple (ticker: AAPL) stock finished 1.5% lower at $172.88. This losing streak is the longest since January 2022, according to Dow Jones Market Data. A few factors drove shares lower this week. For one, several Wall Street analysts have raised concerns about global iPhone demand. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":66390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-75131","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apple Stock Falls Again. What&#039;s Behind the Losing Streak. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Apple stock fell for the sixth straight day on Friday. Apple (ticker: AAPL) stock finished 1.5% lower at $172.88. 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