TECH - Apple Stock Got Bit By Sellers Thursday: What Happened? | Benzinga
Despite some positive developments for Apple Inc (NASDAQ:AAPL) on Thursday, the stock closed the day down nearly 2.5% as investors rotated out of tech stocks. Here’s what you need to know.
What To Know: Apple saw positive analyst coverage from Wedbush and BofA on Thursday.
Wedbush analyst Dan Ives reiterated Apple with an Outperform rating and maintained a price target of $275, while BofA Securities analyst Wamsi Mohan maintained Apple with a Buy rating and raised the price target from $230 to $256.
Despite the positive analyst coverage, Apple shares trended lower all morning before finding a bottom for the day in afternoon trading. Part of the move in Apple shares on Thursday appears to be due to a rotation out of tech stocks following a remarkable rally in ...