BofA Downgrades Apple To Neutral, Cites Risks And Valuation Concerns
August 05, 2020 at 14:12 PM EDT
BofA analyst Wamsi Mohan downgraded Apple's stock to "neutral" from "buy", citing rapid multiple expansion that has pushed valuations to rich levels. Besides the downgrade, the analyst increased his price target from $420 to $470.
