Both Jefferies and Loop Capital downgraded Apple, with Jefferies becoming the rare Wall Street institution to give Apple the equivalent of a sell rating. Although JPMorgan Chase did not downgrade Apple, it lowered its target price. Another data shows that Apple's iPhone sales in China fell 18.2% year-on-year in the fourth quarter. In addition, the latest disclosure shows that the "Capitol Hill Stock God" sold Apple in large quantities. Apple lost its throne as the world's largest company by market value. On Tuesday, the first trading day after U.S. President Trump took office, U.S. stocks generally rose, but Apple bucked the trend and fell, with intraday losses once reaching...
Comments