Apple stock down 3.6% as Barclays says iPhone weakness will persist

News Snapshot:

Shares of Apple (AAPL) fell 3.6% at the close of trading in New York on Tuesday, the stock's steepest drop since August. The moves came after Barclays downgraded the iPhone maker and lowered its price target for shares of the company on fears of slowing iPhone 15 sales in China. “We are still picking up weakness on iPhone volumes and mix, as well as a lack of bounce-back in Macs, iPads and wearables,” Barclays analyst Tim Long wrote in a note Tuesday. “The biggest takeaway from the latest checks is incrementally worse [iPhone 15] data points out of China, together...