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Apple Could Slide Towards $420, Creative Global Says

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Shares of Apple (NASDAQ: AAPL) are down 0.9 percent to $526.80 ahead of first quarter earnings due to be released after the close.

Creative Global believes the shares will remain under increasing pressure, and in the medium term may move towards $420. As innovation slows and competition increases, shares could slide, analyst Carlo Besenius said.

Besenius also believes the technical setup is negative.

The analyst has a Sell rating on the stock.

Latest Ratings for AAPL

DateFirmActionFromTo
Aug 2015Wells FargoUpgradesMarket PerformOutperform
Aug 2015Bank of AmericaDowngradesBuyNeutral
Jul 2015NomuraInitiates Coverage onBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Carlo Besenius Creative GlobalAnalyst Color Analyst Ratings

 

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