Apple shares slide following Barclays downgrade, dragging down markets ...Middle East

By Krystal Hur, CNN New York (CNN) — Apple stock fell on the first trading day of the year, weighing down the major stock indexes and snarling Big Tech’s gangbusters 2023 rally. Shares of the iPhone maker sank 3% on Tuesday after Barclays downgraded the stock to an “underweight” rating from “equal weight,” citing disappointing iPhone 15 sales particularly in China. Barclays also trimmed its price target to $160 from $161. “We are still picking up weakness on iPhone volumes and mix, as well as a lack of bounce-back in Macs, iPads and wearables,” analysts wrote in a note. “The continued period of weak results coupled with multiple expansion is not sustainable.” Analysts at investmen

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