Apple got crushed in Monday morning trading on analyst concerns that declines in the economy and PC growth will leave the pricier wares of the Mac maker out in the cold.

Cupertino, California-based Apple  lost $23.17, or 18 percent, to $105.07 in midday trading.

“PC unit growth is decelerating and the remaining source of growth is increasingly in the sub-$1,000 market where Apple does not play,” Morgan Stanley analyst Kathryn Huberty wrote Monday in a note to clients.

Morgan Stanley downgraded Apple to “equal weight” from “overweight” and changed its price target to $115 from $178.

The move comes the same day as RBC Capital Markets said Apple faces headwinds in the PC market and lowered its price target to $140 from $200. RBC Capital cited a “worsening consumer spending environment” for its downgrade.

Monday’s concerns come after BMO Capital Markets analyst Keith Bachman noted Thursday that a weakened consumer economy has taken a toll on Apple. Also, analyst firm ThinkPanmure pointed out on Wednesday that Apple’s Macbooks had dropped from Amazon.com’s top 5 category in notebooks from a previous top 3 position.

Apple shares traded 4 percent lower Friday.