Is Wall Street Disenchanted With Apple?

// Last updated on //

These days, it seems Apple can do no right on Wall Street. The latest snub came from Citigroup, which downgraded the company to “neutral” from “buy” on Sunday. More significantly, the price target was dropped by $100 to a modest $575 per share. Citi analyst Glen Yueng questioned the strength of the iPhone 5, pointing to cuts Apple made with its suppliers. It may be that the mystique around the iPhone 5 is diminishing as competing products — such as Samsung’s offerings — gain momentum, he suggested. Citi’s decision comes amid other worrisome signs for Apple.

Read more from the original source

Facebook Comments
NEXT READ:  It Is Stunning What Lies Internet Viewers Endorse

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.