Wall Street defends Apple stock amid worst week since 2022

The recent decline in Apple’s stock price presents a buying opportunity for investors, as certain analysts continue to view the company as a reliable refuge during times of market turbulence. Last week, the stock plummeted nearly 11%, marking its steepest one-week drop since November 2022. This year, Apple’s shares have fallen over 14%, outpacing the Nasdaq 100 Index’s nearly 6% decrease. On Monday, the stock again suffered an additional decline of more than 1%.
Ryan Vlastelica for Bloomberg News:
‎

“At a time of potential economic stress, its stalwart stature as a seller of indispensable devices (arguably staples) with exceptional brand and balance sheet strength, create supportive arguments for the shares, countering the headwinds of a slower than hoped for ramp up in AI, and exposure to Trump tariffs,” wrote Rosenblatt Securities analyst Barton Crockett in a note.
While recent issues — including a delay with the company’s artificial intelligence-infused Siri digital assistant, gave further credence to the view that the company is struggling in the AI era — Crockett said “the iPhone and AI cycle for Apple will improve from here.”
His view is echoed by Ben Reitzes, an analyst at Melius Research, who maintains a positive view on the iPhone’s long-term potential. Both have a buy rating on shares.

‎
MacDailyNews Note: More about Reitzes’ outlook for Apple here.

‎
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post Wall Street defends Apple stock amid worst week since 2022 appeared first on MacDailyNews.