Apple is having it hard. Oppenheimer downgraded it from “outperform” to “perform” amidst weak sales. The reason behind this is that the tech giant is struggling to adapt to a competitive AI landscape.

Apple reported fiscal first-quarter earnings Thursday. Analysts are focused on iPhone momentum following a sluggish start to the year for Apple's stock.

Investment firm Oppenheimer has downgraded tech giant Apple (AAPL) stock from Buy to Hold due to reduced estimates for iPhone sales over the