Oracle Investment Research Cuts PT on Apple (AAPL), Cook Should Be Held Accountable

Oracle Investment Research lowered its price target on Apple (NASDAQ: AAPL) from $670 to $650 but kept a Strong Buy rating following Q1 results.

While still positive on the stock, analyst Laurence Balter ripped into CEO Tim Cook.

"Any Chairman in America who sits idle while $200 billion in shareholder wealth is wiped away should be held accountable... We ask a logical question then. If business is so good, and the Apple story continued to grow, why wasn't the dividend increased or a buyback announced? Shareholders now have three choices, buy more, sell or write the Board."

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 $514.01 yesterday.

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