The shares of Apple, the most valuable company in the world have plunged following weak than expected U.S jobs data. The disappointing jobs report has raised hopes of a potential halt in Federal Reserve interestrate hikes, benefiting rate-sensitive stocks. Despite this, Apple's stock remained in negative territory, with concerns stemming from its projection of sales below Wall Street estimates for the upcoming holiday season.

• Jobs Report Impact: Weaker U.S. jobs data sparked optimism about a Federal Reserve interest rate hike pause and boosted rate-sensitive stocks.
• Apple's Sales Forecast: Poor sales for iPads and wearables caused the forecasted sales for the quarter to fall below Wall Street predictions.
• Analyst Reactions: Approximately 14 analysts have lowered their price targets for Apple, resulting in a median price target of $195, about 10% above its current trading price.

There were many challenges associated with Apple’s shares that decreased after a poor US job report. This economic indicator generated hopes for a potential pause in Federal Reserve interest rate hikes, benefiting rate-sensitive stocks across the board. However, Apple's stock did not share in the gains experienced by other mega-cap stocks after the release of the October payrolls report.
Apple's troubles extended to its sales forecast for the crucial holiday quarter, which fell below Wall Street estimates. The company attributed this shortfall to weak demand for iPads and wearables, raising concerns about the broader holiday demand in a period plagued by sticky inflation.
As a result of this projection, at least 14 analysts have reduced their price targets for Apple, causing the median price target to settle at $195. This figure represents a modest 10% premium over Apple's current trading price.

Although Apple's iPhone sales witnessed growth in the September quarter, the company faces heightened scrutiny and market expectations regarding the performance of the iPhone 15 models in China. CEO Tim Cook sought to allay Wall Street concerns by emphasizing the continued success of the iPhone in the Chinese market, despite competition from local smartphone brands like Huawei.