Cowen Downgrades Apple Inc. (AAPL), Cites China Struggles – ValueWalk Premium

Cowen Downgrades Apple Inc. (AAPL), Cites China Struggles

Shares of Apple are down -7% in premarket trading Wednesday after poor earnings led Cowen analysts to downgrade the stock.  During Apple’s third quarter 2015, Apple reported earnings per share of $1.85 on revenue of $49.6 billion. Analysts were forecasting Apple to post earnings per share of $1.81 on $49.43 billion.  While Apple was still able to beat analyst forecasts, this quarter represents the thinnest earnings beat since 2013. While the iPhone 6 appeared to be a success out . . .

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