Monday, 7 January 2013

Is Apple fading or rebounding? Pick your analyst


Apple's prospects are dimming! Wait, the company is poised for a comeback! It all depends on which analyst you choose to listen to these days.
In an investors note released yesterday, Citi analyst Glen Yeung lowered his rating on Apple stock to Neutral from Buy. Citi initiated coverage of Apple last month, issuing a Buy rating based on an expected recovery from the stock's then "near-term trough."
But with the share price now below $500, Yeung now sees the "likelihood of any near-term rally as diminished."

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