Market Movers rounded up the best reactions from investors and analysts as Apple shares were flat despite a downgrade from ‘buy’ to ‘hold’ by Loop Capital. The pros, including Jim Cramer, discussed the company’s guidance that the mega-tech company will miss its revenue guidance for this quarter due to a 10 percent drop in iPhone production and shipments. Apple beat revenue expectations in its most recent quarter, but had announced that revenue will fall about 3% year over year during the period. The stock ended the trading day down half a percent. Apple is currently in Cramer’s Charitable Trust portfolio.
https://www.cnbc.com/2023/05/22/apple-trades-flat-despite-rare-downgrade-heres-what-the-pros-say.html Apple remains unchanged despite a rare downgrade. That’s what the pros say
