Apple Could Slide Towards $420, Creative Global Says
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
|Dec 2014||JMP Securities||Maintains||Market Outperform|
|Dec 2014||Canaccord Genuity||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.