Morgan Stanley joins the chorus of Apple price target cuts: 'China smartphone market to blame' [CNBC]
Morgan Stanley (MS)
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Source: CNBC
Morgan Stanley says China's iPhone market is weak as people take increasingly more time to replace their old phones. China's overall smartphone market is also weakening, the firm said, especially at the high-end where suppliers have seen order cuts across most vendors. Goldman Sachs, Guggenheim Partners, UBS, HSBC and Rosenblatt Securities have also recently cut their price targets on Apple shares. Published 1 Hour Ago CNBC.com
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