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Source: Common Domain

Apple’s stock flirts with bear market after Guggenheim cuts rating, earnings outlook

Thursday 16:20 GMT

Shares of Apple Inc. once again erased early gains to trade at a four-month low on Wednesday, after Guggenheim Securities analyst Robert Cihra cut his rating and earnings estimate, saying rising selling prices is “no longer enough” to offset weakening iPhone units.

Apple’s stock has slumped 10.3% over the past three months, while the Nasdaq-100 Index NDX, -0.67% has lost 8.3% and the Dow Jones Industrial Average DJIA, -0.66% has slipped 0.1%.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte