Apple Kicks Off New Year on Wrong Foot: Can iPhone 16, Vision Pro Turn the Tide?

investing.com:

In 2023, Apple (NASDAQ:AAPL) stock had a strong performance, finishing the year at $192.53, marking a significant 48% gain from 2022.

However, it's important to note that this boost in stock value wasn't entirely backed by the company's financial performance throughout the year.

Now, as other more punctual problems come together with the Cupertino-California giant's performance, the question preying on investors' minds is: Can the company keep outperforming in 2024?

Let's take a deep dive into its financials to better understand where we stand.

The onset of the new year brought a decline in AAPL share value, spurred by unfavorable comments about the company. On the first trading day of the year, Apple stock experienced a 3.58% drop, triggered by Barclays' pessimistic remarks.

Barclays downgraded the company, expressing concerns about decelerating iPhone 15 sales in China and forecasting further weakening sales with minimal advancements expected in the upcoming iPhone 16 release.

Adding to Apple's challenges, a patent dispute emerged, questioning whether the blood oxygen sensor in Apple's Apple Watch infringed on Masimo's (NASDAQ:MASI) patented technology.

The International Trade Commission, in a recent development, advocated for a ban on importing the watches, leading to the removal of the products from shelves.

However, the Federal Court of Appeals somewhat alleviated the crisis by permitting Apple to continue selling the watches.

Returning to concerns regarding iPhone sales, recent quarterly results indicate that the iPhone constitutes 49% of Apple's overall sales.

With lackluster iPhone sales in 2023 and pessimistic expectations for 2024, apprehensions about the company facing a challenging year ahead have started to