This FAANG stock sold off sharply in response to economic headwinds, creating a rare buying opportunity for investors. Read More...
Motley Fool
Why Apple Stock Dropped on Jan. 3, 2023
Apple (NASDAQ: AAPL) stock tumbled 4% through 2 p.m. ET on Tuesday, knocking the tech titan below $2 trillion in market capitalization for the first time since 2021, and putting Apple stock a full one-third below the $3 trillion market cap it hit a year ago. As its first stock action of the new year, BNP downgraded Apple stock from outperform to neutral this morning, and slashed its price target on the tech giant by 22%, to just $140 a share. BNP’s downgrade is certainly weighing on Apple stock today, but it’s worth pointing out that BNP may only be reacting to other news that necessitated the downgrade.
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