This article is more than 10 years old.
This morning, Jefferies lowered its price target on shares of Apple (AAPL) to $425 citing concerns that the iPhones introduced this week do not addresses the market for lower-priced smartphones in emerging markets. In the report, Jefferies notes that the company could fall short of its sales targets and this could create downward pressure on the stock. While the price target was decreased by $25 this morning, the hold rating was maintained. Shares of Apple were showing some weakness this morning.
