Apple price target lowered to $133 from $144 at Barclays

Barclays analyst Tim Long lowered the firm’s price target on Apple to $133 from $144 and keeps an Equal Weight rating on the shares. The analyst reduced estimates for Apple’s December and March quarters as well as its fiscal 2023 to account for production issues and weakening demand across hardware categories. He estimates December quarter app store sales declined by 2%, which also puts consensus estimates for Services "at risk."