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AAZJ
2021-05-28

Rotten apple

Apple gets rare sell rating as New Street downgrades and predicts nearly 30% stock decline

Apple could see a significant decline in sales of its flagship iPhone and investors should get out before the stock tumbles, according to a note from New Street Research.The tech giant reportednearly $48 billion in iPhone salesfor its fiscal second quarter, helping the company blow past analyst estimates for earnings and revenue. Several analysts have said that the iPhone 12 was part of a new supercycle for Apple.However, New Street analyst Pierre Ferragu downgraded the stock to sell from neutra

Apple gets rare sell rating as New Street downgrades and predicts nearly 30% stock decline

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