[e-Biz] Apple Stock Going Down 17% on Nasdaq

Morgan Stanley and the Royal Bank of Canada yesterday downgraded Apple’s share from “overweight” to “equal-weight”, cutting down the price target from $178 to $115. They don’t expect Apple to sell as much Macs within the next three months like in the 2.5 years before. After this information the Apple share went down from 128.24US$ to 105.26US$, thus losing more than 17%.

Morgan Stanley expects a deceleration in PC unit growth in general. The only part of the market that will have (little) growth is the sub-$1,000 area. A field in which Apple is not represented well.

» Nasdaq stock quote for Apple

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