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After trudging slightly upward on Tuesday — reversing a four-day losing streak and recovering from having touched a 52-week low mark on Monday — Apple (NASDAQ:AAPL) shares ended Wednesday back in the red. The company’s stock closed down 1.27 percent at $425.66. Here’s a cheat sheet to company news making the buzz on Wednesday:
Why Are Apple’s Shares Sliding?
As the Dow’s rally continues for a second day, one company in particular is missing the wagon. Apple’s stock continued its slide on Wednesday, as two brokerage firms changed to more conservative price targets on Apple’s shares. Analysts at Barclays lowered their target from $575 to $530, while those at Citigroup decreased its objective from from $500 to $480. Both firms cited slowing of iPhone sales in the current quarter as their more bearish positions, reported MarketWatch…. (Read more.)
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