Apple trades flat despite rare downgrade. Here’s what the pros have to say

by | May 22, 2023 | Financial

Market Movers rounded up the best reactions from investors and analysts as Apple shares traded flat despite a downgrade to hold from buy at Loop Capital. The pros, including Jim Cramer , discussed the firm’s prediction that the megacap tech company will miss its revenue forecast this quarter due to a 10% cut in iPhone builds and shipments. Apple beat revenue expectations last quarter but had said revenue this period will fall by about 3% from the prior year. The stock finished the trading day half a percent lower. Apple is currently held in Cramer’s Charitable Trust portfolio.

Article Attribution | Read More at Article Source

Share This