Apple (AAPL) PT Trimmed to $130 at Jefferies

Jefferies analyst Sundeep Bajikar reiterated a Hold rating and lowered his price target on Apple (NASDAQ: AAPL) to $130 from $135 to account for macro demand uncertainty for iPhone primarily in China, and incremental loss of investor confidence in Apple's ability to grow.

"Our EPS estimates remain unchanged, and below the Street's," Bajikar commented. "We could become more constructive on the stock with lower investor expectations and/or evidence of progress in new product categories such as Watch or Car, or progress in Cloud Services."

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 $119.72 yesterday.

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