“Banc of America cut its price target on the stock, citing Apple’s lower forecasts for iPod and Mac sales,” Reuters reports. “Apple had gained 15 percent in the last two days after the company announced early Wednesday that it would make available free software that would allow Microsoft Corp.’s Windows operating system to run on some Apple Macintosh computers. Apple computers use Apple’s own operating system, called Mac OS X.”
“Banc of America said it cut its price target on Apple to $77 from $82. It retained its ‘neutral’ rating on the stock. Shares of Apple fell 80 cents, or 1 percent, to $70.44 in afternoon Nasdaq trade,” Reuters reports.
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