UPDATE: Oracle Investment Research Downgrades Apple (AAPL) to Hold

August 21, 2012 11:42 AM EDT
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(Updated - August 21, 2012 2:42 PM EDT)

Apple (NASDAQ: AAPL) is getting a rare downgrade intra-day Tuesday. Oracle Investment Research downgraded Apple from Buy to Hold with a price target of $650.

Analyst Laurence Balter, said the "the hype concerns us, as it sounds vaguely familiar to another decade (remember when Microsoft (Nasdaq: MSFT) and Cisco (Nasdaq: CSCO) were maket cap kings."

Apple's market cap is now equal to $87.93 for every person on the planet, he quips.

Balter believes there is margin danger with Apple entering the word of set-top-boxes and TVs. He also notes sales growth is deceleration and the expectations are high.

"Anything that can't go on forever... will end," Balter quotes Warren Buffett as saying.

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 $665.15 yesterday.

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Warren Buffett


Tim on 2012-09-07 02:37:08
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Checked their site. Seems like they have quite a following from institutions.

Oracle Investment Research
Tim on 2012-08-21 15:34:48
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Who are they? Do they have any credibility? Their office is on a street so small that Google Streetview didn't go down it.

How about it, StreetInsider.com ... did you get two confirmed sources before publishing this out of now where prediction? This type of reporting is what is wrong with the blogosphere and internet reporting.

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