Could Apple's share price really fall by 30% this year, as suggested by UBS? Apple has had a poor start to 2024 and things may get much worse, according to a UBS note warning shares could fall almost 30 per cent. It’s not that UBS thinks Apple shares will sink, but it sees it as a possibility – a worst-case scenario and a potential surprise for 2024. Some 80 per cent of revenue pertains to hardware, but Apple “trades on a software multiple”. READ MOREMeanwhile, Apple’s 2024 earnings estimates have risen slightly over the past year – much more slowly than all but one (Tesla) of the other members of the so-called magnificent seven group of tech stocks.

Source: The Irish Times March 03, 2024 12:02 UTC