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Nomura downgrades Apple, lowers price target

Published 12/19/2017, 08:00 AM
© Reuters.  Nomura downgrades Apple, lowers price target
AAPL
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  • Nomura Instinet downgrades Apple (NASDAQ:AAPL) from Buy to Neutral and lowers the price target from $185 to $175.
  • Analyst Jeffrey Kvaal says “the stock’s gains for the iPhone X supercycle are in the late innings” and thinks unit growth, if not ASP growth, is baked into the consensus and full multiple.
  • The Nomura action marks Apple’s first downgrade since June.
  • Apple shares are down 0.8% premarket.
  • Previously: Mizuho Securities downgrades Apple; shares down nearly 4% (June 12)
  • Now read: Apple: Should You Buy The Dip?


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