Mellanox Cut Most After Apple on Sales: Israel Overnight
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Mellanox Technologies Ltd.’s price target was cut the most among the world’s 374 largest technology companies after Apple Inc. as sales guidance missed analysts’ projections for the second time this month.
The Israeli maker of software used to transfer and store data fell 1.3 percent to $51.01 yesterday in New York on trading volume more than eight times its three-month daily average. The Bloomberg Israel-US Equity Index of the largest U.S.-traded Israeli companies lost 0.3 percent to 86.15. EZchip Semiconductor Ltd. rallied the most in three weeks after Maxim Group LLC recommended buying the shares.