| 2018-08-20 09:05:46|
AAPL 09:05 08/20 08/20/18
Apple downgraded to Sell from Neutral at New Street Research
New Street Research analyst Pierre Ferragu downgraded Apple to Sell from Neutral, stating that he believes the iPhone X has been so successful and well received by consumers that it has brought forward demand, leading him to expect a "material disappointment" in 2019. Ferragu expects iPhone revenues to decline 8% in 2019 versus the consensus view of 1% growth. He lowered his price target on Apple shares to $165 from $170.