Apple Growth Slowdown Fuels Concern of Value-Stock Shift
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Apple Inc., after years of hyper growth, is starting to look more like a value stock, according to some analysts reacting to the iPhone maker’s financial results.
At least 20 analysts lowered their price targets after Apple on Jan. 23 reported its slowest growth rates in years and said the trend will continue. Apple fell 2.4 percent to $439.88 in New York, its lowest in a year, and ceded its position as the world’s most valuable company to Exxon Mobil Corp. Apple, down 37 percent from a Sept. 21 high, now has a market value of $413.1 billion, compared with Exxon’s $418.2 billion.