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Apple's stock falls after a fresh analyst downgrade. We'll look at whether

tech is due for a correction. It's a company that's worth almost 3 trillion dollars, ran up nearly 50%

last year, so any kind of pullback is coming after this period of extraordinary strength.

Plus global shipping giants divert vessels away from the Red Sea and why the world can't ignore

India's food export restrictions.

It's Wednesday January 3rd.

I'm Luke Vargas for the Wall Street Journal and here is the AM edition of What's News?

The top headlines and business stories moving your world today. Shares in Apple suppliers across Asia have dropped this morning after a downgrade by analysts at

Barclays sent Apple shares tumbling yesterday.

Barclays lowered their rating from equal weight

to a bearish underweight, meaning they recommend selling the stock.

Deputy Finance Editor Quentin Webb told us that valuing Apple at the call isn't entirely surprising. So if you look across the street, overall the consensus on Apple is relatively positive,

but the proportion of analysts who have a buy rating on the stock has gone down, so it's gone from something above 70% or so in the

last 12 months to more like 60% now according to fact that Barclays have cut their rating to the kind of lowest level saying effectively that they are

concerned about lackluster sales of the iPhone 15 and the coming iPhone 16 as well as other bits of Apple hardware.

So there is this shift in the consensus on Apple towards a bit more

weariness than before.

And as Quentin told us, Apple could fall further as the magnificent

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