UPDATE: Credit Suisse Downgrades Apple (AAPL) to Neutral

September 11, 2013 6:41 AM EDT
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Price: $120.00 +0.81%

Rating Summary:
    60 Buy, 10 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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(Updated - September 11, 2013 7:02 AM EDT)

Credit Suisse downgraded Apple (NASDAQ: AAPL) from Outperform to Neutral with a price target of $525. Analysts expressed concern about the lack of innovation and view both the iPhone 5S and iPhone 5C as premium devices. This limits the total addressable market and as a result growth. Credit Suisse added that specifications are "not quite on par" with other high-end smartphones.

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 $494.64 yesterday.

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