Loop Capital cuts AAPL price target to $170 over weak iPhone demand

Projecting that Apple's annual revenue will decline in 2024, investment firm Loop Capital says iPhone demand is too soft.iPhone 15 Pro colorful lineupOther investment firms such as JP Morgan are predicting a recovery for Apple in China, while ones like Morgan Stanley, believe the company will benefit from cancelling the Apple Car. However, Loop Capital is concentrating on the iPhone, and sees only increasing problems for Apple.Analyst Ananda Baruah says that be now believes that both Apple's overall revenue and its earnings per share, will decline in 2024. That would be the first time this has happened since 2016. Continue Reading on AppleInsider | Discuss on our Forums