Analyst Charles R. Wolf of Needham & Co has downgraded Apple Computer Inc (AAPL) from “buy” to “hold” this morning based on valuation.
In a research note published this morning, the analyst mentions that “Apple Computer’s share price has appreciated significantly over the past one year on account of the launch of new iPods and Macs, and the company’s robust financial results. The sales of the company’s Mac computers have been significantly higher than the estimates so far this year.”
Full article here.
Prudential Equity Group downgrades Apple Computer on recent stock appreciation – November 04, 2005