Wells Fargo

Wells Fargo Downgrades AAPL from Outperform to Market Perform

Analyst Maynard Um from Wells Fargo has today downgraded Apple stock (AAPL) from Outperform to Market Perform, while maintaining the $536 to $581 valuation range, StreetInsider reports. The analyst however sees positive catalysts in 2014, including the iPhone 6, iBeacon, and iWatch, along with the potential for increased dividends and/or buybacks. Um noted that his firm’s bullish thesis...