Apple Downgrade Pushes Bullish Analyst Ratings to 2-Year Low
- UBS lowers Apple to neutral on worries over slowing growth
- Stock is outpacing broader market, pushing valuation up
New Apple iPhone 14 handsets for sale in New Delhi, India.
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
Even as Apple Inc.’s shares have powered their way to a fresh record high, worries over cooling demand for iPhones and sputtering growth at its services business have left the biggest US company with the fewest bullish analyst ratings in more than two years.
UBS Group AG is the latest broker to take a step back, cutting the technology behemoth this week to neutral from buy. That leaves Apple with buy ratings from 67% of the analysts who follow the company, the lowest since late 2020 and the worst among megacap peers, according to data compiled by Bloomberg.