Apple stock has tumbled at the start of the year. BofA Securities advises investors to stay the course but joined a chorus of Wall Street voices expressing concern over flagging iPhone demand. The iPhone is by far Apple’s most important product as it brings in the most revenue.

Apple already had a rough start to the year. More worries about how its latest iPhones are selling aren’t helpi

Putting valuations on publicly traded companies is tricky because so much is tied to stock prices -- and stock prices are influenced by many things a company can't control, such as the economy,

Apple is known for selling popular hardware devices. The iPhone, which today represents about half of overall sales, even though it's a product in its 16th iteration, still essentially drives financial performance. However, the company has also developed and found smashing success with the MacBook, iPad, AirPods, and Watch.

Apple shares are close to key support. Breaking below $217 would bring $208 into play, according to technical stock market analysts.

Doug and Lee examined Apple's decreasing stock performance, pointing out as main causes of investor unhappiness dismal iPhone 16 sales in China, AI losses, and criticism about the company's lack of recent innovation.

Apple (AAPL), and the stock has lost over 11% so far, extending its drawdown from all-time highs to over 14%. It also lost its status as the world’s largest company to Nvidia (NVDA), whose share have looked unstoppable over the last few years.