Apple’s Stock Gloom Spreads as More Analysts Trim Price Targets

More analysts covering Apple Inc. are cutting their share-price forecasts, signaling growing concerns about an economic slowdown that could hurt the sales of its products.

Wells Fargo Securities and Morgan Stanley were the latest to lower their price targets, joining a drumbeat of brokerage firms that have recently reduced their stock forecasts ahead of the company’s quarterly results slated to be released next week.