Apple Slips 2% As Needham Cuts Estimates Amid iPhone, China Weakness
$Apple$ shares slipped 2% in morning trading on Tuesday as investment firm Needham cuts estimates for the fiscal second-quarter, citing weakness in the iPhone and China."AAPL's anemic and/or negative growth outlook, along with expected cost increases to fund [generative AI], are the biggest gating factors preventing new investors from buying AAPL, based on our conversations," analyst Laura Martin wrote in an investor note. Martin has a Buy rating and $220 price target on Apple.Martin now expects