KeyBanc Downgrades Apple On New Growth Slowdown Fears

KeyBanc Downgrades Apple On New Growth Slowdown Fears Apple shares fell 1% in premarket trading after KeyBanc Capital Markets downgraded the iPhone maker to "Underweight" from "Sector Weight" and set a 12-month price target of $250. This implies roughly a 21% decline from Monday's close, putting the stock in bear-market territory. The downgrade by KeyBanc analysts Brandon Nispel and John Vinh is based on a widening disconnect between Apple's valuation and its underlying growt...

By Tyler Durden