A couple of analyst downgrades might have Apple (AAPL) stock reeling to start the new year, but much of Wall Street sees the AAPL selloff as a chance to pick up shares in the iPhone maker on the cheap.
Apple is routinely one of Wall Street's top-ranked Dow Jones stocks, but concerns over demand in China have some analysts becoming increasingly cautious on the name. Piper Sandler analyst Harsh Kumar cut his recommendation on the stock last week to Neutral (the equivalent of Hold) from Overweight (Buy), citing a weak macroeconomic backdrop in China.
