Apple (NASDAQ:AAPL) -1.3% after Canaccord's Mike Walkley, a long-time bull, slashes his FQ3 iPhone sales estimate to 29.34M from 33.58M, and his FQ4 estimate to a mere 26.11M from 33.58M. Walkley, who is nonetheless raising his PT to $740, says recent checks indicate iPhone sales have "modestly declined in certain developed markets," and expects this trend to continue due to new Android launches, Verizon's LTE promos, and iPhone 5 anticipation. FQ2 results are due on Tuesday.