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
|Aug 2015||Wells Fargo||Upgrades||Market Perform||Outperform|
|Aug 2015||Bank of America||Downgrades||Buy||Neutral|
|Jul 2015||Nomura||Initiates Coverage on||Buy|
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