In one day, the stock rating was downgraded twice, and Apple's analyst confidence indicator hit a five-year low

Apple Inc. was downgraded by two institutions on Thursday, marking the latest sign of the market's cautious attitude towards the iPhone manufacturer. So far this year, Apple has significantly underperformed compared to other large tech stocks. With the downgrade, Apple's "recommendation consistency" has fallen to 3.9, the lowest level since early 2020. Among the analysts tracked by Bloomberg, only 55% recommend buying the stock, which is extremely low among large tech stocks. In contrast, Nvidia, Microsoft, and Amazon all exceed 90%