"Barclays Downgrades Apple Amidst Slowing iPhone Sales"

Barclays analysts have downgraded Apple's stock to 'underweight' with a price target of $160, citing expectations of declining demand for the iPhone. The downgrade comes despite Apple's shares rising significantly last year, with concerns about the iPhone's ability to maintain its market position amid increased competition and regulatory challenges. The downgrade led to a 2.5% drop in Apple's stock price, wiping out nearly $75 billion in market capitalization.