Apple Cut by Needham; Tesla Dips on Shipments; Wells Fargo Asset Cap Lifted
On this episode of Stock Movers:- Apple (APPL) shares fell in premarket trading after Needham & Co cut its recommendation on the iPhone maker to hold from buy. Analyst Laura Martin downgraded the stock on near-term threats to revenue and EPS growth. "For this stock to work, it must have the catalyst of an iPhone replacement cycle, which we do not foresee in the next 12 months,” Martin wrote.- Tesla (TSLA) is also lower this morning as vehicle shipments from its China factory fell for an eighth straight month, extending a global sales slump as Chief Executive Officer Elon Musk pledges to…
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