Jefferies' Peter Misek cuts his price target on Hold-rated Apple (AAPL) to $420 from $500. He's...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Jefferies' Peter Misek cuts his price target on Hold-rated Apple (AAPL) to $420 from $500. He's slashing his revenue numbers and seeing about a 25% chance the company misses Q1 guidance after Jefferies' recent supplier checks. "Historically when handset makers fall out of favor, they fall faster/further than expected." Shares -0.7% premarket.