Apple's shares slide on analyst downgrade that the iPhone is now 'facing the reality'

HSBC analysts have changed their Apple stock recommendation to "hold" from "buy," reports CNBC, sending Apple's stock in another tailspin. Prior to the cut, the shares had lost about 18% of their value for this quarter alone, and added a further 1.7% decline after the downgrade. HSBC revised its stock price target down to $200, and issued the following memo to their clients:

Apple's iconic hardware unit growth is broadly over for now. Revenues are only supported by higher selling prices and by the development of services. Flat unit growth has hit Apple's share price and incidentally ...

Wednesday, 5 December 2018 GSM ARENA GSMArena.com