“Apple’s cut to a hold rating by Deutsche Bank late Thursday marked the second downgrade to Apple stock within a week, but Wall Street analyst aggregate ratings are still heavily bullish nearly a month after the much-anticipated iPhone 6 launch,” Reinhardt Krause reports for Investor’s Business Daily.
“Apple rolled out the iPhone 6 and its Apple Pay mobile wallet on Sept. 9,” Krause reports. “China’s government on Monday said that Apple’s iPhone 6 and larger-screen iPhone 6 Plus will go on retail sale in that country in mid-October, removing concerns. Availability in China, the world’s biggest market, had clouded analysts’ Q4 forecasts, but pre-orders have been brisk.”
Krause reports, “Despite clarity on China, Deutsche Bank analyst Sherri Scribner late Thursday downgraded Apple stock to hold from outperform, saying no major new products are expected soon to act as catalysts.”
MacDailyNews Take: See related article which casts considerable doubt over Sherri’s analytical capabilities:
Apple to hold special event on October 16th – October 3, 2014
Everyone knew this was coming except Deutsche Bank’s Apple analyst?
Okey-dokey. And pigs can fly.
“Apple stock was flat, near 100, in afternoon trading in the stock market today,” Krause reports. “According to Thomson Reuters, analysts’ overall recommendations are still largely bullish.”
Read more in the full article here.
MacDailyNews Take: What happens when the fix is in, but it doesn’t take?
Apple bears awaken with volatility highest in four months – October 3, 2014
Deutsche Bank downgrades Apple from Buy to Hold, lowers price target to $102 from $105 – October 2, 2014