What is interesting is that after 16 years or 17 years or so of tracking analyst upgrades and downgrades, this firm is one firm we have never heard of. The firm isn’t tied to the Oracle of Omaha nor is it tied to Larry Ellison.
Sometimes boutique firms offer insight. This feels more coincidental for the drop and we’d say that this was probably more of an excuse. That being said, we have not seen much on this formal report so we’ll just let the drop in the stock speak for itself.
Apple shares are now down 2% at $651.30 on more than 20 million shares and the new 52-week range is $354.24 to $674.88.
The consensus target remains $721.39 according to Thomson Reuters, although that does not include the impact of this analyst call.
JON C. OGG
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