The Globe and Mail reports in its Friday, Jan. 5, edition that two days after a downgrade from Barclays dragged down the broader market, Apple was lowered to "neutral" from "overweight" by Piper Sandler analyst Harsh Kumar based on "valuation concerns and broader handset and macro weakness in [the first half of 2024.]" The Globe's David Leeder writes that Mr. Kumar's share target slid to $205 (U.S.) from $220 (U.S.). Analysts on average target the shares at $199.31 (U.S.). Mr. Kumar says in a note: "We are concerned about handset inventories entering into 1H24 and also feel that growth rates have peaked for unit sales. Handsets are 51 per cent of total revs; Deteriorating macro environment in China could also weigh on handset business; Headwinds due to negative news around both the Watch and other ongoing legal battles could be a distraction; Difficult comps from 2023 paired with constant currency headwinds are expected to continue in 1H24 with interest rates remaining elevated." The Globe reported on Oct. 25 that Goldman Sachs recommended buying Apple when it was worth $171.10 (U.S.). The Globe's Tim Shufelt advised being cautious on Apple on Nov. 27. The shares could then be had for $189.79 (U.S.).