On June 3, 2019, Apple CEO Tim Cook speaks at Apple's Global Developer Conference in San Jose, California.
Bricklayer trinca | Reuters
Rosenblatt Securities downgraded Apple for the "sell" of "neutral" Monday and said it thought there was "less reward" for owning the shares.
The company said that even though she did not think Apple's stock was a short, "we believe that Apple will face a fundamental deterioration over the next 6 to 12 months," said the company. analyst Jun Zhang in a note to customers. Rosenblatt, however, maintained its price target of $ 150 to 12 months.
"In addition to our" selling "thesis, we believe that new iPhone sales will be disappointing, that iPad sales growth will slow down in the second half of 2019; support the growth of total revenue," they said.
Shares of the tech giant are down 1.75% to $ 200.90 early in the session. The company plans to release its third quarter results on July 30 after the closing bell. Apple's design director, Sir Jony Ive, also recently announced his departure from the company.