Apple (AAPL) -3.4% to $392.50 as the Street continues digesting the light FQ3 guidance provided...

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

Apple (AAPL) -3.4% to $392.50 as the Street continues digesting the light FQ3 guidance provided with its FQ2 beat. BMO's Keith Bachman has cut shares to Market Perform after recently expressing concerns about iPhone mix. "We think the challenges of 1) increased competitiveness in the smartphone market, which we believe will pressure ASPs and margins – will largely offset 2) improved capital allocation." In a set of charts analyzing Apple's results, Dan Frommer points out the iPad is now 20% of sales, and iTunes/Software/Services 9% (the iPhone is 53%). (previous) (transcript)