RBC Capital Downgrades Apple (AAPL) to Underperform
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RBC Capital downgrades Apple (Nasdaq: AAPL) from Sector Perform to Underperform, citing reduced growth expectations and near-term uncertainties about the company's leadership after CEO Steve Jobs said he will take a medical leave of absence until the end of June.
StreetInsider.com note: analysts are somewhat mixed on the Jobs news today. Analysts at Broadpoint.AmTech upgraded the stock from Neutral to Buy, while analysts at FTN Midwest downgraded the stock from Buy to Neutral.
After being down as much as 10% in after-hours trading, shares of Apple opened today's trading session down just about 4% to around $81.80.
Apple, Inc. designs, manufactures, and sells personal computers, portable digital music players, and mobile communication devices, as well as related software, services, peripherals, and networking solutions worldwide.
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Aapl
Anita on Jan 15, 2009 07:56 AMThe cult days for Apple have been over for years. Apple has come into its own with innovative products that perform and so does the executive staff. Steve Jobs is not running Apple by himself. Steve is on the board with power, but he has developed corporate heads that know what it takes in this market to remain #1. Stop being so speculative.