Wall Street Hasn't Been This Pessimistic on Apple in Decades
- Newest bear Rosenblatt sees ‘fundamental deterioration’ ahead
- Five sell ratings for Apple is the most since at least 1997
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Wall Street hasn’t been this down on Apple Inc. in a long time.
Rosenblatt Securities downgraded the company to sell on Monday, bringing the total number of bearish analysts up to five, among the 57 ratings tracked by Bloomberg. Five is the highest number of sell ratings the iPhone maker has had since at least 1997, according to historical data compiled by Bloomberg. To put that into context, Apple wouldn’t release its iMac computer until August 1998, and the iconic iPod wouldn’t debut until October 2001.