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Apple shares briefly plunge 7% in two days on downgrade, valuation concerns

June 13, 2017

Via: CNBC

Apple shares fell more than 2 percent Monday, falling for a second-straight day due to mounting concerns about unsustainably high stock prices. The iPhone maker’s stock has lost nearly 6.2 percent of its value in just two days.

The decline Monday came after Mizuho downgraded the stock to neutral from buy and lowered its price target to $150 from $160.

“We believe enthusiasm around the upcoming product cycle is fully captured at current levels, with limited upside from here on out,” Mizuho managing director, Americas research, Abhey Lamba, said in a Sunday note.

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