Apple stock price has pulled back this year as concerns about its innovation, growth, and valuation continued. AAPL crashed to $220, about 15% below its highest level in 2024, bringing its market cap to about $3.

Apple shares edged lower in early Thursday trading, extending a move into correction territory for the world's second-largest tech stock, following a price target downgrade from Goldman Sachs analysts ahead of its December quarter earnings report later next week.

In China, Apple’s second largest market, iPhone sales fell 18% in the December ending quarter, according to Bloomberg.

Apple shares fell Tuesday after Jefferies downgraded the stock to an “underperform” from “hold” on Monday, noting that flagging iPhone sales and weak demand for its artificial intelligence (AI) features in newer models would lead the tech giant to undershoot quarterly revenue forecasts.

Shares of Apple (AAPL) tumbled almost 4% on Tuesday following another analyst’s outlook change on the stock. Today, hit a new four-month low, following a report from Bloomberg indicating the company has seen an 18% slide in iPhone sales in China during the holiday season.

Several Wall Street analysts have cut their ratings or price targets on Apple stock ahead of the company's earnings report next week.