“Barclays downgraded Apple from Overweight to Equalweight Thursday morning, maintaining a $570 price target,” Paul Quintaro reports for Benzinga.
“Ben Reitzes, analyst at Barclays, sees shares staying in a trading range for the the next year, ‘given a maturing smart phone market,'” Quintaro reports. “In addition, iPhone margins be squeezed, ‘as it adds advanced new features’ such as ‘Sapphire glass, curved glass, and new batteries.'”
Quintaro reports, “Reitzes does not believe smart watches or Apple TVs justify raising sales numbers.”
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