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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 2016RBC CapitalMaintainsOutperform
Aug 2016DaiwaDowngradesBuyOutperform
Jul 2016Hilliard LyonsUpgradesLong-term BuyBuy

View More Analyst Ratings for AAPL
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Posted-In: Carlo Besenius Creative GlobalAnalyst Color Analyst Ratings

 

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