Oppenheimer has cut its price target for Apple from $220 to $200, just days ahead of the iPhone maker’s fourth-quarter results release, citing China concerns and other factors.In the days leading up to Apple’s quarterly results being issued, analysts offer hot takes on what they expect the company will report. With Thursday’s results release and analyst call fast approaching, Oppenheimer has taken the decision to cut down the 12-month price target for Apple from $220 to $200.Speaking on CNBC to justify the decision, Oppenheimer senior analyst Martin Yang said China demand concerns and “macro-related factors” were behind the cut. The analyst hasn’t seen consumer sentiment returning to the market in major markets, along with worsening exchange rate headwinds entering the quarter. Read more…
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