Fintel reports that on January 7, 2025, MoffettNathanson downgraded their outlook for Apple (NasdaqGS:AAPL) from Neutral to Sell. Analyst Price Forecast Suggests 1.27% Upside As of December 23, 2024,

MoffettNathanson co-founder and senior analyst Craig Moffett explains why his firm has downgraded its rating and target price for Apple. Craig speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.

"Despite the steady melt-up in Apple shares over the past few months, there has actually been a steady drumbeat of bad news," an analyst said on Tuesday.

The ban on the sales of Apple's (NASDAQ:AAPL) iPhone 16 models continues to be in place in Indonesia, after the government said the company's $1B plan, which includes establishing an AirTag factory, was insufficient to meet local investment requirements,

Indonesia banned iPhone 16 sales after Apple failed to meet requirements that smartphones sold domestically should comprise at least 35% locally-made parts.

Apple's iPhone 16 won't hit shelves in Indonesia anytime soon. As Reuters reports, Indonesia's Ministry of Industry has upheld its ban on the iPhone 16 because Apple has yet to meet its domestic content rules.