Apple’s (AAPL) Growth Rates Have Peaked For Unit Sales

We are concerned about handset inventories entering into 1H24, notes a Piper Sandler analyst on Apple (AAPL). Apple was downgraded to neutral at Piper Sandler and the price target was lowered to $205 from $220. The analyst note highlights that they feel that growth rates have peaked for unit sales, and difficult comps from 2023 paired with constant currency headwinds are expected to continue in 2H24. Renita Young weighs in on this story. Tune in to find out more about the stock market today.