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Apple (AAPL) stock dips as KeyBanc downgrades on valuation, 'soft growth' outlook
October 4, 2023 5:00 AM EDTKeyBanc analyst Brandon Nispel downgraded Apple (NASDAQ: AAPL) shares to Sector Weight from Overweight.
As a result, Apple stock traded 1.2% lower in early New York trading on Wednesday.
The downgrade call on Apple stock is based on several factors:
Valuation: AAPL is currently trading at near all-time high multiples and carries a significant premium compared to historical levels and the Nasdaq index. This... MoreKeyBanc Downgrades Apple (AAPL) to Sector Weight
October 3, 2023 7:18 PM EDTKeyBanc analyst Brandon Nispel downgraded Apple (NASDAQ: AAPL) from Overweight to Sector Weight.
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 $173.75 yesterday.
... More