“Apple Inc.’s price target was cut to $420 from $500 by analysts at Jefferies due to slower sales growth in the first quarter,” Sital S. Patel reports for MarketWatch. “Jefferies has a hold rating on the stock.”
“The firm cut its revenue forecast for Apple to $41 billion in the first quarter and sees a 25% probability the firm will miss guidance due to sales slowing even more after Samsung’s Galaxy S4 launch on Thursday,” Patel reports. “Apple shares were down 0.7% in premarket trading.”
Brief article in full here.
MacDailyNews Take: Can’t have yesterday’s late rally continue. It’s not time for that, yet. Conscious or not, that’s what this type of bandwagon hopping infers.