UPDATE: Global Equities Research Downgrades Apple (AAPL) to Underweight
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Global Equities Research analyst Trip Chowdhry downgraded Apple (NASDAQ: AAPL) from Equalweight to Underweight with a price target of $95.00.
The analyst comments "Downgrading AAPL to SELL - Price Target $95 - AAPL has Zero Innovation - Product pipeline is depleted - Estimating "0%" Growth in FY2024 - All of this is further exasperated by Ukraine-Russia War and Covid Lockdowns in China - AAPL Stock Price appreciation based on Stock buybacks, by taking Debt, will not work in High Interest Rate Environment - Secular Downhill Journey has Started for AAPL, Recovery is extremely difficult."
Shares of Apple closed at $161.79 yesterday.
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