Apple Inc. (NASDAQ: AAPL) shares are underperforming the wider market in the premarket session on Tuesday. The stock of the iPhone maker is is trading 1.75% lower at $225.95 at the time of writing around 9 am Eastern.
The slump comes amid a string of bearish news surrounding the company. The stock got downgraded by analysts at Jefferies and Loop Capital.
Jefferies analyst downgraded AAPL stock to underperform and Loop downgraded the stock to hold, according to a Bloomberg report.
The cuts follow news that Apple is losing favor among Chinese consumers, losing its top spot among smartphone sellers in the country, according to data from Canalys. Homegrown brands that burn a smaller hole in the pocket — Huawei and Vivo — outdid Apple in 2024, grabbing 17% and 16% market share in China, respectively, compared with Apple’s 15%.
Add to the woes that Apple Intelligence is finding muted response amid iPhone users with its growing requirement of space required on device posing a major challenge.
Earlier this month, Dzambhala reported how ace Apple analyst Ming-chi Kuo is expecting dim iPhone sales in 2025 on the back of weak iPhone demand in China and low adoption of Apple Intelligence.
Apple stock has a P/E ratio of 34.08 with a 52-week high of $260.10 and 52-week low of $164.08.