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Apple’s shares slide on analyst downgrade that the iPhone is now ‘facing the reality’

December 5, 2018

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HSBC analysts have changed their Apple stock recommendation to “hold” from “buy,” reports CNBC, sending Apple’s stock in another tailspin. Prior to the cut, the shares had lost about 18% of their value for this quarter alone, and added a further 1.7% decline after the downgrade. HSBC revised its stock price target down to $200, and issued the following memo to their clients:

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