Apple (NASDAQ: AAPL) shares slipped fractionally in premarket trading on Thursday as investment firm Needham cut its revenue and earnings estimates for 2023, citing "weak iPhone demand" in China, while highlighting a new potential platform that could boost its advertising revenue.Analyst Laura Martin, who has a buy rating and $171 price target on Apple ( AAPL), now expects 2% revenue growth to $403.1B and $6.07 per share in earnings, down from 2% and 4% from previous estimates, citing not only concerns about the iPhone in China, but the weakening global economy, supply-chain shortages and growing geopolitical pressures between the U.S. and China.
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