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

December 5, 2018


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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