Small independent firm downgrades Apple

A lesser-known independent research shop, Loop Capital Markets, has downgraded Apple (AAPL) stock from Buy to Hold and cut its price target to $330 from $370, arguing the shares are fully valued near current levels and require a fresh catalyst to advance.
Analyst Ananda Baruah wrote that the firm still likes Apple’s longer-term market-share gains and services narrative. However, new data on iPhone shipments has shifted its view. After Apple reportedly reduced projected unit shipments for the