Apple hits seven-week low after Barclays downgrade on demand

Apple on Tuesday fell nearly 3.6% to a seven-week low after Barclays downgraded the shares of the world’s most valuable company on concerns that demand for its devices from the iPhone to the Mac will remain weak in 2024.

Barclays is the second brokerage to have the equivalent of a “sell” rating on the stock, which now has its most number of bearish recommendations in at least two years,…