Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

Apple stock gets a rare downgrade: explore why

Shares of Apple Inc (NASDAQ: AAPL) are trading slightly down on Monday after the tech behemoth received a rare downgrade from a Loop Capital Markets analyst.

Apple stock now lacks a meaningful upside

Ananda Baruah lowered his rating on the iPhone maker today to “hold”. His price target remained unchanged at $180 but that no longer represents a meaningful upside from here.

The analyst turned dovish on Apple stock primarily because he doubts the company will be able to deliver on its revenue guidance for the current quarter.

Loop Capital supply chain analyst John Donovan sees AAPL having reduced its June Q builds and shipments by 10%. This is incremental to reduced June Q guidance AAPL provided on 5/4.

It is also noteworthy that shares of the multinational are already up nearly 40% versus the start of the year.

Why else did he downgrade the Apple stock?

Earlier this month, the Nasdaq-listed firm reported a near 3.0% decline in revenue for its Q2 and said a similar decline was likely in the June quarter as well (find out more).

Baruah downgraded the Apple stock this morning also because he’s not entirely convinced that the said weakness will be restricted to the current quarter only. His research note reads:

While we believe AAPL’s Sep Q & Dec Q shipment outlook remains intact, we also believe the risk has increased it could eventually be lowered.

His outlook on the Cupertino-headquartered firm, though, is in contrast with Jim Cramer who recently said the stock could easily hit $200 (link).

The post Apple stock gets a rare downgrade: explore why appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...


    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023