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Analysts at RBC Capital and Morgan Stanley cut Apple’s rating on stock and as a result shares went down sharply. Mike Abramsky at RBC Capital states that a recent survey (RBC conducted with research firm ChangeWave) found a drop in the number of consumers intending to buy Macs.
Ambramsky states:
29% intend to buy Mac laptops in the next 90 days, down from 34% in August, while 26% intend to buy a Mac desktop, down from 30%.
Abramsky also mentions that it is the biggest decline in 2.5 years. Meanwhile at Morgan Stanley, Kathryn Huberty downed AAPL’s ratings as well and stated that:
multiples for high growth stocks will continue to compress in the current environment. We don’t believe AAPL is immune to this trend.
