![]() ![]() ![]() Loop Capital analyst Ananda Baruah also downgraded Apple to hold from a previous buy position, MSN reported.Īlso: Dave Ramsey Used These 4 Investment Rules To Build His Wealth - and They’re Surprisingly Easy To FollowĪpple stock is still up 38% year-to-date and remains a solid investment - particularly compared to the 17% gains for the S&P 500 as a whole, Yahoo Finance reported. He likened selling Apple now, in advance of the iPhone 15 launch, to “leaving the Super Bowl at halftime.”Īccording to Yahoo Finance, Rosenblatt analysts downgraded Apple to neutral from a buy, with a price target of $198. “The move is just knee-jerk August selling after a parabolic run so far this year,” Wedbush analyst Dan Ives told Yahoo Finance. Since July, shares are down 9%, just one point away from a technical “correction,” Yahoo Finance reported. Some experts people are viewing the drop as the start of a “market correction,” with shares down 8.8% this month. 3, 2023, and $255 billion since July 31, when the company’s market cap hit a record high. That’s still a staggeringly large number, but the company lost more than $200 billion during the week beginning Aug. With iPhone sales down for the third straight quarter, Apple’s market cap has fallen from its historic high of $3 trillion down to $2.79 trillion. See: 10 Stocks That Could Be the Next Apple or Amazonįind: 3 Things You Must Do When Your Savings Reach $50,000 ![]() Is it time to “hang up” on your Apple investment? ![]()
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