Standpoint Research Downgrades Apple (AAPL) to Sell for Moral Reasons

January 6, 2014 6:55 AM EST Send to a Friend
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    55 Buy, 10 Hold, 3 Sell

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Standpoint Research downgraded Apple (NASDAQ: AAPL) from Hold to Sell Monday. Analyst Ronnie Moas cited moral reasons for the downgrade.

"For Apple Computers to pay their workers $2 an hour while they have $150 billion in the bank is nothing short of obscene... They have workers who are doing back-breaking and eye-burning work in depressed states of mind and in many instances have already committed suicide. Instead of treating their employees like human beings, they are treated like animals. If it were not for their employees, Apple would not be where it is today. But instead of giving these people a better life, they give these people the bare minimum and defend this action with the argument that the wage is higher than the average there and in-line with what their competitors are paying."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $540.98 yesterday.


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