Apple Inc. got itself a new bear as expectations of soft demand for its latest iPhone prompted analysts at Barclays Plc to downgrade the stock. Shares fell 3.6% on Tuesday, their biggest one-day percentage drop since September, and the decline erased more than $107 billion in market value.
Barclays analysts led by Tim Long cut their rating on Apple to underweight and price target by $1 to $160, compared with the stock’s Tuesday closing price of $185.64.
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