Equities research firm MoffettNathanson cut its price target on Apple (AAPL) stock to $141 from $184 and kept a Sell rating on the shares.
A great deal of risk is still not reflected in AAPL stock, and estimates for the firm are likely to drop, MoffettNathanson co-founder Craig Moffett told CNBC today.
A wide view of an Apple store, showing the range of products the company offers.
Apple’s Challenges
“Anti-U.S. sentiment” in China and other countries may become a problem for Apple, Moffett warned. Noting that travel to the U.S. from some nations has dropped significantly due to anti-American feelings, the co-founder thinks that such sentiment could create difficulties for AAPL.
A deceleration of economic growth could also reduce the number of devices that Apple can sell, according to Moffett.
And finally, since AAPL has fallen behind in the AI race, other companies are likely to determine how AI will be provided by small devices, and these business models may not be favorable for Apple, the co-founder stated.
The Recent Price Action of AAPL Stock
In the last month, the shares have dropped 12%, while they have given back 17% in the last three months.
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Disclosure: None. This article is originally published at Insider Monkey.
