Piper Sandler downgrades Apple

Days after Barclays also cut its rating, Apple is the only megacap tech stock in the red, down 0.9% in premarket trading, after brokerage Piper Sandler downgraded the company to “neutral” from “overweight.”
Patrick Seitz for Investor’s Business Daily:
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For the second time this week, a Wall Street analyst has downgraded Apple stock. Investment bank Piper Sandler on Thursday lowered its rating on the iPhone maker to neutral from overweight, or buy.
Kumar said he moved to the sidelines on Apple stock because of concerns about soft smartphone sales and macroeconomic weakness in the first half of the year.
Kumar lowered his price target on Apple stock to $205 from $220.
In premarket trades on the stock market today, Apple stock sank 0.9% to $182.68.

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MacDailyNews Take: This dip is setting up nicely for those with cash on hand to accumulate.
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