Apple Rises Despite Price Target Cut by Piper Jaffray [TheStreet.com]
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Source: TheStreet.com
Piper Jaffray cut its price target on Apple from $250 to $222. Jacob Sonenshine Dec 13, 2018 10:44 AM EST Apple Inc.'s ( AAPL ) price target was cut by a considerable margin at Piper Jaffray Co. but shares of the tech giant still rose early Thursday. The iPhone maker rose 1.3% to $171.36. Piper Jaffray analyst Michael Olson lowered his price target on Apple to $222 from $250, citing slower global iPhone demand. Weaker iPhone component supplier results must be due to slower international uptake, Olson wrote. Recently, Lumentum Holdings Inc. ( LITE ) , which supplies Apple with lasers that power the iPhone's facial recognition system, warned of reduced orders from a key customer, leading analysts to conclude that the latest line of iPhones were not selling as well as Apple e
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