Company stock was selling at a per-share price of $500 earlier today after the company released its fiscal Q1 report. Apple shares are selling for over $500 per share once again but several analysts have downgraded AAPL stock.
The tech giant sold less iPhones than expected and reported a revenue outlook that’s weaker than expected. Following the report, Oppenheimer’s (OPY) Ittai Kidron cut AAPL stock to ‘Perform’ from ‘Outperform.”
Raymond James’ (RJF) Travis McCourt also downgraded the stock, cutting it to ‘Outperform’ from ‘Strong Buy.’
AAPL stock is down 1% Wednesday.