Why Apple Stock Was Down on Wednesday
Shares of Apple (NASDAQ: AAPL) traded lower on Wednesday, slipping as much as 2.3%. When the market closed for the day, the stock was still down 1.1%
A broad cross section of stocks ended the day lower, which no doubt helped fuel Apple's decline. More pertinent to Apple investors, one analyst raised the specter of slowing iPhone sales in the face of tough macroeconomic conditions, while another was moderately more bullish.
Jefferies analyst Kyle McNealy dug deep on global web-traffic patterns and concluded that iPhone sales "saw some deceleration" during the month of February. As a result, the firm now believes sales likely ended the quarter in-line with expectations when they were previously ahead.
Source Fool.com
