Apple: Wall Street firms downgrade stock as China growth slows

Wall Street’s sentiment on Apple (AAPL) is turning bearish, with firms like Loop Capital and Jefferies downgrading the smartphone giant. Creative Strategies CEO and principal analyst Ben Bajarin joins Market Domination to share his perspective on the company’s outlook.

Bajarin attributes current challenges to increased local competition in China’s smartphone market. While Apple has “generally dominated the premium price tier in China,” he questions whether there is “a lot of growth left for them” in the region, describing it as “a wait-and-see” scenario.

On Apple’s artificial intelligence (AI) initiatives, Bajarin believes the story will “get more interesting” over time, though he notes consumer AI remains in its early stages and “everyone is struggling to create some value propositions there.”

“I think you need to see a hardware cycle really kick in for people to start to get really excited again,” he tells Yahoo Finance.

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This post was written by Angel Smith