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APPLE SLIDES TO EIGHT-WEEK LOW AFTER SECOND RATING DOWNGRADE IN A WEEK

NEWS Desk Global



Apple (AAPL.O) continued its struggle in the new year on Thursday, plumbing an eight-week low after Piper Sandler handed the tech giant its second downgrade this week on worries about iPhone demand. The rating action knocked Apple shares down 1.4% at $181.6, causing its market value to decline nearly $170 billion so far in the opening week of 2024. Apple still remains the most valuable company by market value worldwide with a capitalization of over $2.8 trillion. Its recent declines put it only 8% below an all-time high closing price in mid-December.

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