Apple's $1,999 iPhone Duo Came Too Cheap for Wall Street
BofA cut its Apple price target to $370 after the $1,999 iPhone Duo came in cheaper than expected. TD Cowen holds $400; Rosenblatt stays at $303.
Apple released a new expensive phone for less money than some people thought it would cost. When companies charge less, some money watchers think the company might make smaller profits, so they lowered their guess about Apple's stock price.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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