Apple hit with second downgrade, inventory concerns to blame

Apple (AAPL) gets hit with another downgrade this week, the iPhone maker’s second since the start of 2024. Piper Sandler analysts downgraded Apple stock from “Overweight” to “Neutral” amid concerns about the tech giant’s iPhone inventory levels.
Yahoo Finance Markets Reporter Jared Blikre breaks down Piper Sandler’s note and how remnants of 2023 themes are lingering around Apple and the tech industry at large so far in 2024.
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