Apple: Jefferies downgrades to 'hold'

(CercleFinance.com) - An analyst at Jefferies today said that he is downgrading his rating on the Apple stock, now recommending investors "hold" it, the day after IT and connected items giant announced a warning on results, which has led to the stock plummeting in pre-market trading today.


"We now model Apple selling 185MM iPhones in F19, down from 206M," the broker says.

The analyst has also cut his corresponding target price for the share to 160 dollars, against 225 dollars at the end of December 2018.



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