Apple’s stock has been struggling, and analysts at Needham & Company don’t see an easy way out. They downgraded the stock due to its high price and growing threats from tech rivals. The Needham team believes that major catalysts are needed to put shares on a better course.
The company faces increasing competition in the tech industry, with rival firms vying for market share. This has led analysts to question whether Apple’s premium pricing strategy will be enough to keep its stock aloft.
Source: https://www.marketwatch.com/story/apples-stock-has-been-in-a-slump-and-these-analysts-dont-see-an-easy-way-out-6906acd0