Apple shares decline as Loop Capital downgrades stock to Hold on weakening demand

Apple Inc. shares fell 1.08% in premarket trading on Tuesday after Loop Capital downgraded the stock from Buy to Hold and reduced its price target to $330 from $370. The brokerage cited softer consumer demand and margin risks from higher memory component costs. The downgrade follows a survey by KeyBanc Capital Markets on Monday showing consumer upgrade intentions fell to 41% from 48%, with AI interest cooling. KeyBanc reiterated an Underweight rating and a $250 price target. Apple also faces UK regulatory proposals aimed at reducing Apple Pay's contactless market control.