“However, she only reiterated a hold rating on Apple Inc.’s stock, saying a limited impact from the Watch and Apple’s heavy reliance on the iPhone offer ‘limited catalysts’ to drive shares higher over the next few quarters,” Booton reports. “Her $110 price target implies a 14% share-price decline from Apple’s $128.54 closing price on Wednesday. ”
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MacDailyNews Take: That “hold” rating and $110 price target are perplexingly bearish.