Apple (AAPL) Bear Terminated by Berenberg Bank

Berenberg Bank was said to let go if its analyst whom was known for being extraordinarily bearish on Apple (Nasdaq: AAPL)

Fortune said that Berenberg terminated Adnaan Ahmad. The analyst recently moved its rating on Apple from Buy to Sell and lifted its price target to $85, but shares of Apple have been reluctant to move below $100. With Apple's latest quarter seeing iPhone sales ramp even higher, the analyst's outlook appeared to have fallen on deaf ears.

Ahmad noted that his stances sometimes met him with a "fair amount of abuse," according to a memo sent out by the analyst on Monday.

Out of some 40+ firms rating the stock, Ahmad was the only analyst with a Sell or Sell-equivalent rating on Apple.

Shares of the stock are down modestly Monday, trading at $107.

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