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Wells Fargo Securities downgraded Apple (AAPL) on Thursday, saying the company’s gross profit margin will come under pressure with the release of its next smartphone, likely named the iPhone 6, as wireless service providers pull back on subsidizing the retail cost of cellphones. Analyst Maynard Um downgraded Apple to market perform from outperform, although he said in a research report that 2014 will be “highlighted by new products (iPhone 6, Scalper1 News
Scalper1 News