Apple price target lowered to $186 from $187 at Barclays

Barclays analyst Tim Long lowered the firm’s price target on Apple to $186 from $187 and keeps an Underweight rating on the shares. The fiscal Q3 print was better than expected led by iPad, and the Q4 quarter revenue guidance was a slight beat versus the Street, although modestly less than Barclays’ estimate, the analyst tells investors in a research note. The firm is still worried about China, regulatory risk for Services, and uncertainty on initial sell-through for iPhone 16 given the uncertainty around artificial intelligence features and timing.