Apple Stock Downgraded; iPhone Seen 'Hitting A Plateau'

A Wall Street firm on Wednesday downgraded Apple (AAPL) stock and slashed its price target on concerns that the iPhone maker is "hitting a plateau."

BMO Capital Markets analyst Tim Long lowered his rating on Apple to market perform, or neutral, from outperform and cut his price target to 162 from 199.

X Apple shares were up 0.3%, near 167.50, in morning trading on the stock market today. Apple is trading below its 50-day moving average, a negative technical indicator. Apple has tumbled about...

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