Wall St bets on Apple bounceback despite iPhone shipment worries

Apple Inc has lost about $50 billion of its market value in the first four days of the year, but Wall Street brokerages remained confident the stock would bounce back. While several brokerages reduced their price targets in response to reports of slowing shipments of the iPhone 6S and 6S Plus, they backed their mostly upbeat recommendations. The most bearish of the six brokerages lowering their targets on Friday was Cowen and Co, which cut its target to $125.