Apple's stock falls to lead Dow losers; analyst sees need for aggressive iPhone price cuts and 'significant' M&A
Shares of Apple Inc. dropped 1.9% in morning trade Monday, enough to pace the Dow Jones Industrial Average's decliners. Wedbush Morgan analyst Dan Ives reiterated his outperform rating and $200 stock price target, which is about 34% above current levels, but said Apple has to "aggressively" cut prices in China on its iPhone XR to boost lagging sales and that a "significant" video content acquisition is needed soon. He said the XR price cuts are needed to pull forward roughly 15 million to 20 million iPhones that would otherwise sit idle... Читать дальше...
