Apple slides to eight-week low after second rating downgrade in a week

Apple continued its struggle in the new year on Thursday, plumbing an eight-week low after Piper Sandler handed the tech giant its second downgrade this week on worries about iPhone demand.
The rating action knocked Apple shares down 1.4% at $181.6, causing its market value to decline nearly $170 billion so far in the opening week of 2024.