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Barclays analyst Tim Long downgraded Apple stock to a “sell” and set a price target of $160 per share, leading to a $100 billion drop in the company’s value.
However, most analysts still rate Apple as a “buy,” and the company has consistently met or exceeded expectations.
Long’s pessimistic target price is still 19% above the 52-week low, and Apple’s market capitalization is $2.87 trillion.
Long reportedly wrote to investors, “We see no features or upgrades that are likely to make the iPhone 16 more compelling.”
Despite the media attention, the advice is to consider investment as a long-term game.
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