Apple price target lowered to $183 from $184 at Barclays

Barclays lowered the firm’s price target on Apple (AAPL) to $183 from $184 and keeps an Underweight rating on the shares. The firm expects “in-line to a bit softer” December quarter results from Apple, as better Services growth and better Macs offset softer iPhone sales. Barclays is cautious on Apple’s March quarter outlook due to lower iPhone 16 builds, adverse currency impacts, and limited SE4 sell-in. As a result, it lowered March quarter revenue and earnings estimates below consensus. The latest data points from Barclays’ supply chain checks include a “modest” 3M SE4 sell-in for the March quarter and continued TSMC wafer cuts.