Shares fell 0.6% in premarket trading. The stock is down 19% this year as of its last close, making it the weakest of the Magnificent Seven. While much of the selloff reflects political uncertainty, as Apple is seen as especially vulnerable to tariffs and it has repeatedly been singled out by the Trump administration for its global manufacturing footprint, its struggles with AI have been another significant headwind.
Apple Inc. shares fell in premarket trading on Wednesday, suggesting the iPhone maker would extend its 2025 weakness as Wall Street remains concerned about its growth prospects and position in the landscape for artificial intelligence.
Needham downgraded the stock to hold from buy, making it the latest firm to turn more cautious. Analyst Laura Martin sees a number of risks, including competition and tepid growth trends, coupled with a valuation that “looks expensive on several metrics.”
