Apple Investors Face $340 Billion Hole as Woes Mount
- Negative growth and high valuation weaken arguments for buying
- Analysts are growing more cautious about the stock’s prospects
Apple iPhone 15 smartphones on sale in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
A drumbeat of bad news for Apple Inc. is casting doubt on the argument that the world’s most valuable company is immune to risks related to economic turbulence.
Tepid sales in China for its new iPhone models have fueled concerns about Apple’s ability to justify its pricey valuation and avoid a streak of four consecutive quarters of falling revenue — which would be its worst run since 2001. That’s as the company grapples with political tensions with China and overheating devices, while KeyBanc this month became the latest firm to downgrade the stock.