Scalper1 News
Apple CEO Tim Cook promised that Apple (AAPL) would enter new product categories this year, and analysts expect him to put his money where his mouth is next Tuesday at a media event in Cupertino, Calif. Besides the iPhone 6, Apple is widely expected to introduce a mobile e-wallet service, perhaps called iWallet, and a wearable device, which some have dubbed the iWatch or iBand. Pacific Crest Securities analyst Andy Hargreaves late Tuesday recommended that investors take profits in Apple ahead of next week’s product launch event. In a research note, Hargreaves said he likely will downgrade Apple’s rating from outperform unless the company unveils new categories that “can generate billions of dollars of incremental operating profit.” Apple investors took his advice Wednesday and sold off Apple shares. In early afternoon trading, Apple was down 3%, near 100, in the stock market today Hargreaves has a price target on Apple… Scalper1 News
Scalper1 News