Apple stock
(NASDAQ: AAPL) went on one of its biggest slides of the year after
analysts downgraded the shares, saying the new iPhone
5C is
not cheap enough for emerging markets and the company is failing to
innovate.
Bank
of America-Merrill Lynch downgraded Apple (AAPL) to "neutral"
from "buy." Similar actions were taken by analysts for
Credit Suisse, Piper Jaffray and UBS.
Apple'sstock fell 5.7 percent, or $28, mid-day on Wednesday to $466.64.
During
Tuesday's highly-covered media event, Apple introduced two new phones
with features such as a fingerprint sensor and new operating system,
iOS 7. The new iPhone 5S comes in various metallic shades while the
cheaper iPhone 5C comes in five plastic colors. see more...
Source:
abcnews
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