REPORT: Apple stock downgraded by HSBC, here is why…
As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by CNBC:
Apple shares fell Tuesday after HSBC downgraded the stock, citing too much dependence on a single product and slowing emerging markets economies.
HSBC downgraded Apple to hold from buy and cut its 12-month price target to $200 from $205. Apple shares fell 1.9 percent in premarket trading Tuesday, trading above $181 a share, adding to an 18 percent decline already for this quarter.
The article goes on to state the following:
The note from the HSBC analysts said: “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 its key suppliers. What has made the success of Apple, a concentrated portfolio of highly desirable (and pricy) products is now facing the reality of market saturation.”
To get more information about this article, please visit CNBC. To weigh in, leave a comment below.
Facebook has SIGNIFICANTLY reduced the distribution of DML NEWS posts, and instead fills newsfeeds with news from the mainstream media. The way to fight back is by sharing our posts with your family and friends. Please take a moment now and click the share button. SHARE NOW
DML News offered you the above information as part of our ongoing effort to educate and inform people around the world. You can obtain additional information by visiting CNBC
Trending on DML News
- OpEd: Venezuelan who fled socialism publishes alarming warning on Ocasio-Cortez’s ‘Green New Deal’
- REPORT: Democrat congress members took $60,000 trip to attend Beyonce concert in South Africa
- BREAKING: ‘Empire’ producers announce decision on Jussie Smollett following charges
- VIDEO: Roseanne Barr releases video blasting Ocasio-Cortez and socialism
- VIDEO: Trump has a plan to deal with attempt to block emergency order
- REPORT: Ocasio-Cortez rips media for reporting on her new luxury high-rise
- VIDEO: State senator calls U.S. flag a ‘rag,’ compares it to Nazi symbol, GOP senator gives emotional response
- REPORT: Covington Catholic lawyer ‘looking very carefully’ at Bill Maher over ‘defamatory’ statements (VIDEO)
- BREAKING: Singer R. Kelly Charged With Aggravated Criminal Sexual Abuse
- VIDEO: Jussie Smollett disses Donald Trump in leaked video of scrapped ‘Drop the Mic’ episode