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Apple Nears Bear Market Territory After BofA Cuts to Hold

2015-08-05 17:13:13| Semiconductors - Topix.net

If the stock drops again today it would mark its twelfth daily decline in the last thirteen trading sessions as the shares inch closer to entering a "bear market," defined as being down 20% or more from its recent high of about $133 per share. MERRILL DOWNGRADE: Bank of America Merrill Lynch analyst Wamsi Mohan downgraded Apple to Neutral and lowered his price target on the stock to $130 from $142, saying a slowdown in iPhone growth could pressure shares over the near-term.

Tags: market hold apple bear

Category:Electronics and Electrical

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