UPDATE: Deutsche Bank Downgrades Apple Inc.
Analysts at Deutsche Bank downgraded shares of Apple Inc. (NASDAQ: AAPL) from Buy to Hold and lowered the price from $105 to $102.
Sherri Scribner outlined reasons for the downgrade:
Apple’s ability to surprise consumer base is limited, according to Scribner. She feels iPhone sales expectations are very high, making it difficult for the company to outperform expectations. Moreover, the company has introduced all of its new products, limiting catalysts, Scribner said.
The Deutsche Bank analyst believes shares of Apple are fairly valued. Scribner adjusted estimates to reflect stronger iPhone sales, however, due to limited catalysts she is downgrading to Hold.
Amid the after-hours downgrade, Apple shares were recently down about one percent at $99.18.
Latest Ratings for AAPL
|Jan 2017||OTR Global||Downgrades||Negative|
|Jan 2017||Guggenheim||Initiates Coverage On||Buy|
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