- Six months after launching coverage at Buy, Deutsche's Sherri Scribner has downgraded Apple (NASDAQ:AAPL) to Hold. Her target has been cut by $3 to $102.
- Scribner: "We believe investor expectations for iPhone sales are currently high, making it more difficult for Apple to outperform expectations." She also doesn't see any major new products on the horizon to act as catalysts, and notes shares are up 25% YTD.
- Pac Crest offered similar arguments for downgrading Apple the day after the iPhone 6/Apple Watch event.
- AAPL -0.7% AH.
- Earlier: Apple roundup