Shares of (NASDAQ: AAPL) are down 13% year to date. The company is facing several headwinds right now, including weak iPhone sales in China and increased regulatory scrutiny in the U.S. and Europe.

Despite these headwinds, Wells Fargo has an overweight (buy) rating on the shares with a $225 price target. That's 35% higher than Apple's current share price of $166.90.

In the company's fiscal 2024 first quarter (ended Dec. 30, 2023), iPhone sales grew in every region except China. But analysts expect Apple to report a 5% year-over-year decline in revenue for the fiscal second quarter.

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Source Fool.com