Apple (NASDAQ:AAPL) has had a bumpy start to the new year, with shares on track for their fifth consecutive session of decline.
Shares, which gained around 46% over the past year, have tumbled in the first trading week of 2024. According to data compiled by Bloomberg, shares have fallen 5.5% this year, erasing over $160B in market value.
The tech firm has been hit with at least two analyst downgrades lately over iPhone demand concerns, hardware trouble and macroeconomic pressures.
The stock is on track for further decline, with 0.86% dip recorded in Friday premarket hours so far. Wall Street analysts recommend a Buy, while Seeking Alpha’s quant system rates AAPL a Hold.
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