Apple . (NASDAQ:AAPL) shares are taking a hit today after investment firm Pacific Crest downgraded the stock to “Sector Weight” and issued a $145 price target. The firm said in a report that Apple . (NASDAQ:AAPL) isn’t paying attention to the risks regarding iPhone 8. Latest reports shows that smartphone market is coming to a stall around the world. Apple . (NASDAQ:AAPL)’s market share is plunging amid several new market entrants.
Pacific Crest thinks that users won’t give a positive response to iPhone 8, which will have a hefty price tag of $1000, according to Goldman Sachs . Apple . (NASDAQ:AAPL) has suffered declining iPhone sales in four out of the last five quarters.
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