iPhone 16 series may face the fastest production cut in recent years, Barclays maintains Apple's "underweight" rating
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Barclays maintains its "underweight" rating on Apple with a target price of $186, citing weak demand for the iPhone 16 series and an expected reduction of 3 million units in production. This is the fastest production cut in recent years, indicating insufficient market demand. While demand for the high-end Pro and Pro Max models remains stable, overall sales face risks, especially in the case of poor sales performance. Barclays analysts estimate that iPhone 16 sales may reach 51 million units, but further sales performance needs to be monitored
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