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With signs increasingly pointing to a year-over-year decline in iPhone sales for Apple’s (AAPL) fiscal year ending next September, the company will need its next-generation smartphone, the iPhone 7, to be a hit in order to reestablish Apple’s growth story. That’s the assessment of FBR analyst Daniel Ives, who cut his price target on Apple stock to 150 from 175 on Wednesday based on revised iPhone sales targets. He still rates Apple stock as Scalper1 News
Scalper1 News